The Polymarket forecasting platform team reported that federal law enforcement officials, including the FBI, searched the home of the company’s CEO and seized his phone and other electronic devices.
The US Department of Justice is investigating Polymarket for allegedly allowing American users to place commercial bets on the outcome of the country’s presidential elections – which is illegal.
A law enforcement spokesman confirmed that FBI agents conducted a “court-authorized law enforcement operation” at Coplan’s address, but declined to go into detail.
Polymarket founder Shayne Coplan declined to comment on the allegations, but an anonymous company spokesman told reporters that the FBI raid could be “apparent political retaliation by the outgoing White House administration for publicly providing reliable data reflecting the possible results of the 2024 presidential election.”
Crypto betting site Polymarket has been putting Donald Trump’s odds significantly higher than Vice President Kamala Harris’ odds for several weeks. This was in stark contrast to the results of public opinion polls.
Earlier, the French National Gambling Authority (ANJ) began investigating the activities of the Polymarket crypto-totalizer for compliance with local gambling laws.
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Source: Cryptocurrency
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