Polymarket CEO Shayne Coplan reaffirmed the company’s commitment to being non-partisan despite recent events. On Nov. 13, federal law enforcement agents raided Coplan’s New York home, seizing his phone and electronics. This raid followed the presidential election, where bettors on Polymarket had favored President-elect Donald Trump over Vice President Kamala Harris.
The early-morning raid surprised Coplan, who was woken up by FBI agents demanding his electronic devices. The company refrained from commenting on reports of federal prosecutors investigating them for allowing U.S.-based users to bet on the site. They labeled the FBI raid as “political retribution” by the outgoing administration.
Although Coplan was not arrested, the FBI did not provide any comments on the situation. The Department of Justice and the White House also remained silent on the matter. Coplan mentioned on X that he was using a new phone and expressed disappointment in the administration’s actions.
Polymarket had predicted Trump’s victory in the election, gaining attention for its accuracy. Despite facing scrutiny and investigations, the company remained committed to its non-partisan values. The future of American entrepreneurship was highlighted by Coplan, emphasizing the need for a pro-business approach.
As the controversy unfolded, Polymarket’s restrictions on U.S.-based users and the success of the “Polymarket whale” trader were also highlighted. The French gambling regulator was investigating Polymarket, adding to the company’s challenges.
In conclusion, Polymarket’s journey through the election cycle showcased its commitment to accuracy and non-partisanship. Despite facing obstacles and investigations, the company remained focused on providing value while navigating regulatory challenges.
Reuters contributed to this report.
Can you please rewrite this for me?
Source link
