Breaking News: Polymarket CEO's Home Is Raided by FBI

[ZAINmalik75]

This can be one of the last actions done under the Biden administration that touched on players that has something to do with the cryptocurrency industry and its supporting industries. While I believe that the feds may have some basis for its action, this is really leaving some bitter taste on the mouth. While Polymarket was generally favoring Trump on its platform as predicting correctly what can be in the election, the CEO was actually a donor to the failed billion-dollar campaign of Kamala Harris which eventually did not save him from the lawfare still happening under Biden. the good news is that Shayne Coplan is not charged with anything...maybe he should be prosecuted for allowing Trump be the winner (just kidding).

How do you see this development? And do you think there can be more surprises like this before January 20?

They can't arrest someone for doing what's their right to do but with these house raids they can scare few but till 20th Jan they can only scare others and the supports of Trump who backed him and according to news Donald has increased the security of his house maybe he also fear something.

He was attacked two times before the elections so extra security is necessary not only for him but for the market too. The house raid was wasted and they only disrespected themselves.

[Z-tight]

It's actually illegal to involved US election to gambling

As far as i know it is no longer illegal for U.S. citizens to bet on the U.S. elections, and Polymarket does not even allow U.S. customers to use their platform, so i don't see the reason for the arrest, if not political issues. Though the FBI may claim that U.S. citizens still find a way to use the platform without detection.

[Asiska02]

It's actually illegal to involved US election to gambling

As far as i know it is no longer illegal for U.S. citizens to bet on the U.S. elections, and Polymarket does not even allow U.S. customers to use their platform, so i don't see the reason for the arrest, if not political issues. Though the FBI may claim that U.S. citizens still find a way to use the platform without detection.

I’m still amazed and surprised why FBI will arrest polymarket CEO when all the actions that happened was not from US itself. I imagine how FBI have access to big companies like this that are not even regulated under their jurisdiction. If US citizens are not allowed to use those services, if they bypass and find their way to use it, I think it’s not of the company to be held responsible for that. I don’t really know how this things works though, but I don’t see him spending much time in their custody as a result of this when the president holding him captive is about to leave the office and the new one that is crypto friendly will take over soon.

[Stompix]

I’m still amazed and surprised why FBI will arrest polymarket CEO when all the actions that happened was not from US itself. I imagine how FBI have access to big companies like this that are not even regulated under their jurisdiction. If US citizens are not allowed to use those services, if they bypass and find their way to use it, I think it’s not of the company to be held responsible for that.

Nobody arrested him, and second Polymarket is run by a company based in the US, in Manhattan of all places, it must follow the rules and the laws, and the laws don't care what you say you do it care about what has been done, Polymarket has already lost a case against the CFTC, they came to an agreement and they said they will not allow any US citizen to use the platform until the get the licenses, well they didn't do a thing about this.

So it's not about politics, it's a case of them managing to secure a deal and then breaking it.

People really need to stop seeing everything in the US like black and white, Shayne was a democrat donor, he got money from Thiel who is a conservator republican, SBF bribed everyone from Democrats to Republicans, and both backers of those parties are investing in Blackrock, so people really need to stop thinking everything is political and throw their tinfoil in the garbage!

[robelneo]

There was a topic on another forum about Polymarket topics of bets. Many topics were created about wars and coming wars, so from bad Polymarket is getting worse. They should have moderated this kind of topic; bets like death or coming wars should not be supported. This is a bad precedent many casinos could follow, and many of us are going insensitive on these issues just for the sake of making money.