Pecohub FBI agents raided the Manhattan apartment of Polymarket CEO Shayne Coplan early Wednesday morning — just a week after the election-betting platform successfully predicted Donald Trump’s stunning victory
The 26-year-old entrepreneur was roused from bed in his Soho pad at 6 a.m. by US law enforcement who demanded he turn over his phone and other electronic devices, a source close to the matter told The Post.
It’s “grand political theater at its worst,” the source told The Post. “They could have asked his lawyer for any of these things. Instead, they staged a so-called raid so they can leak it to the media and use it for obvious political reasons.”
Coplan was not provided with a reason for the raid, but the source suspects it was political retribution since Polymarket accurately predicted an easy Trump triumph over Vice President Kamala Harris – as opposed to traditional polls.
The source also speculated that the government is likely piggybacking off liberal media reports that accuse Polymarket of market manipulation and rigging its polls in favor of Trump.
“This is obvious political retribution by the outgoing administration against Polymarket for providing a market that correctly called the 2024 presidential election,” the source said.
Coplan was not arrested and has not been charged, a Polymarket spokesperson told The Post on Wednesday evening.
“Polymarket is a fully transparent prediction market that helps everyday people better understand the events that matter most to them, including elections,” the rep said.
“We charge no fees, take no trading positions, and allow observers from around the world to analyze all market data as a public good.”
The FBI did not immediately respond to a request for comment.
Coplan posted on X after his run-in with the feds: “New phone, who dis?”
Polymarket does not allow trading in the US, though bettors can bypass the ban by accessing the site through VPN.
The FBI’s investigation comes a week after Coplan said Polymarket is planning to return to the US.
The platform – which showed Trump with a 58.6% chance of winning the morning before Election Day and Vice President Kamala Harris’ odds at 41.4% – has also been linked to Trump and his allies.
