{"id":125674,"date":"2024-11-14T08:43:49","date_gmt":"2024-11-14T01:43:49","guid":{"rendered":"https:\/\/hotvideos24.online\/?p=125674"},"modified":"2024-11-14T08:43:49","modified_gmt":"2024-11-14T01:43:49","slug":"fbi-raids-home-and-seizes-phone-of-polymarket-founder-technology","status":"publish","type":"post","link":"https:\/\/hotvideos24.online\/?p=125674","title":{"rendered":"FBI raids home and seizes phone of Polymarket founder | Technology"},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<\/p>\n<div>\n<p class=\"dcr-1eu361v\">The FBI raided the home of the chief executive of the predictive betting site Polymarket and seized his phone late on Wednesday.<\/p>\n<p class=\"dcr-1eu361v\">Shayne Coplan, the 26-year-old CEO of the company, woke early on Wednesday morning in Manhattan to federal agents in his home, the New York Post <a href=\"https:\/\/nypost.com\/2024\/11\/13\/business\/fbi-seizes-polymarket-ceos-phone-electronics-after-betting-platform-predicts-trump-win-source\/\" data-link-name=\"in body link\">first reported<\/a>. Coplan himself was not arrested, the company said.<\/p>\n<p class=\"dcr-1eu361v\">On X, formerly Twitter, Coplan wrote on Wednesday evening: \u201cNew phone, who dis?\u201d<\/p>\n<p class=\"dcr-1eu361v\">Polymarket claimed the raid was retaliation for its users betting overwhelmingly that Donald Trump would win the election. The site displayed a large chance of Trump winning before the election, giving Kamala Harris a minimal one, out of line with most mainstream polls.<\/p>\n<p class=\"dcr-1eu361v\">\u201cIt\u2019s discouraging that the current administration would seek a last-ditch effort to go after companies they deem to be associated with political opponents,\u201d Coplan wrote. \u201cWe are deeply committed to being non-partisan, and today is no different, but the incumbents should do some self-reflecting and recognize that taking a more pro-business, pro-startup approach may be what would have changed their fate this election.\u201d<\/p>\n<p class=\"dcr-1eu361v\">The Department of Justice is investigating Polymarket for allegedly allowing US-based users to bet on the site, Bloomberg News reported on Wednesday evening.<\/p>\n<p class=\"dcr-1eu361v\">Polymarket users can place bets on the outcome of yes-or-no questions that range widely in subject. <a href=\"https:\/\/fortune.com\/crypto\/2024\/10\/30\/polymarket-trump-election-crypto-wash-trading-researchers\/\" data-link-name=\"in body link\">Fortune<\/a> reported the week before the election that the site was rife with wash-trading, an illegal type of market manipulation.<\/p>\n<p class=\"dcr-1eu361v\">\u201cThis is obvious political retribution by the outgoing administration against Polymarket for providing a market that correctly called the 2024 presidential election,\u201d Polymarket told media outlets, including the Wall Street Journal.<\/p>\n<p class=\"dcr-1eu361v\">\u201cPolymarket is a fully transparent prediction market that helps everyday people better understand the events that matter most to them, including elections.\u201d<\/p>\n<p class=\"dcr-1eu361v\">Making bets and predictions on Polymarket is not allowed in the US, though users can and do circumvent the prohibition via virtual private networks (VPNs). A week ago, the company announced it would resume operations in the US. The company had paid a $1.4m fine to the Commodity Futures Trading Commission in 2022 for failing to register with the agency as required and was forced to pause trading at the same time.<\/p>\n<p class=\"dcr-1eu361v\">The FBI did not immediately respond to a request for comment.<\/p>\n<figure data-spacefinder-role=\"inline\" data-spacefinder-type=\"model.dotcomrendering.pageElements.NewsletterSignupBlockElement\" class=\" dcr-173mewl\"><a data-ignore=\"global-link-styling\" href=\"#EmailSignup-skip-link-11\" class=\"dcr-jzxpee\">skip past newsletter promotion<\/a><\/p>\n<aside aria-label=\"newsletter promotion\" class=\"dcr-av5vqf\">\n<p class=\"dcr-1xjndtj\">A weekly dive in to how technology is shaping our lives<\/p>\n<p><gu-island name=\"SecureSignup\" priority=\"feature\" deferuntil=\"visible\" props=\"{&quot;newsletterId&quot;:&quot;tech-scape&quot;,&quot;successDescription&quot;:&quot;A weekly dive in to how technology is shaping our lives&quot;}\"\/><span class=\"dcr-1eusqlu\"><strong>Privacy Notice: <\/strong>Newsletters may contain info about charities, online ads, and content funded by outside parties. For more information see our <a data-ignore=\"global-link-styling\" href=\"https:\/\/www.theguardian.com\/help\/privacy-policy\" rel=\"noreferrer\" class=\"dcr-1rjy2q9\">Privacy Policy<\/a>. We use Google reCaptcha to protect our website and the Google <a data-ignore=\"global-link-styling\" href=\"https:\/\/policies.google.com\/privacy\" rel=\"noreferrer\" class=\"dcr-1rjy2q9\">Privacy Policy<\/a> and <a data-ignore=\"global-link-styling\" href=\"https:\/\/policies.google.com\/terms\" rel=\"noreferrer\" class=\"dcr-1rjy2q9\">Terms of Service<\/a> apply.<\/span><\/aside>\n<p id=\"EmailSignup-skip-link-11\" tabindex=\"0\" aria-label=\"after newsletter promotion\" role=\"note\" class=\"dcr-jzxpee\">after newsletter promotion<\/p>\n<\/figure>\n<p class=\"dcr-1eu361v\">When no reason for the raid was given publicly, powerful figures in the technology industry came to Coplan\u2019s defense. The CEO of Coinbase, the largest cryptocurrency exchange in the US, decried the raid. Brian Armstrong wrote on X: \u201cThis will backfire \u2013 they just made Polymarket even more powerful.\u201d<\/p>\n<p class=\"dcr-1eu361v\">Elon Musk, the richest man in the world and one of the president-elect\u2019s closest advisors, wrote, \u201cThis seems messed up\u201d in response to the news.<\/p>\n<p class=\"dcr-1eu361v\">Coplan himself has been photographed with Donald Trump Jr, and claimed last week to have fielded calls from \u200bthe president-elect\u2019s Mar-a-Lago\u200b resort as votes were counted.\u200b<\/p>\n<\/div>\n<p><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<br \/><div data-type=\"_mgwidget\" data-widget-id=\"1660802\">\r\n<\/div>\r\n<script>(function(w,q){w[q]=w[q]||[];w[q].push([\"_mgc.load\"])})(window,\"_mgq\");\r\n<\/script>\r\n<br \/>\n<br \/><a href=\"https:\/\/www.theguardian.com\/technology\/2024\/nov\/13\/fbi-raid-polymarket-founder-trump-election\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The FBI raided the home of the chief executive of the predictive betting site Polymarket and seized his phone late on Wednesday. Shayne Coplan, the 26-year-old CEO of the company, &hellip; <a href=\"https:\/\/hotvideos24.online\/?p=125674\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8629],"tags":[],"class_list":["post-125674","post","type-post","status-publish","format-standard","hentry","category-u-s","entry"],"_links":{"self":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/125674","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=125674"}],"version-history":[{"count":0,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/125674\/revisions"}],"wp:attachment":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=125674"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=125674"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=125674"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}