FBI Raids Polymarket CEO's Home Amid Election Bet Controversy

Federal agents raided the home of Polymarket CEO Shayne Coplan, seizing electronics after Polymarket's controversial election betting. The company's odds heavily favored Trump over Harris, contrary to polls. A mystery French trader also profited hugely from Polymarket's bets. French regulators are now investigating the platform's compliance.

In a dramatic turn of events, federal law enforcement agents raided the downtown New York residence of Polymarket CEO Shayne Coplan. The early morning raid saw agents seizing Coplan's phone and electronics, confirming what many had speculated following Polymarket's unusual betting activities on the recent presidential election.

The New York Post first reported that the FBI agents demanded access to Coplan's electronic devices. Despite the raid, Coplan has not been arrested, and the raid has sparked accusations from Polymarket of political retribution by the outgoing administration.

While authorities, including the FBI and the Department of Justice, remain tight-lipped about the raid, the controversy surrounding Polymarket continues to unravel. The company's betting odds, which placed Donald Trump as a favorite, were at odds with prevailing opinion polls, raising eyebrows among betting circles and regulators alike.

(With inputs from agencies.)