{"id":125912,"date":"2024-11-14T23:41:47","date_gmt":"2024-11-14T16:41:47","guid":{"rendered":"https:\/\/hotvideos24.online\/?p=125912"},"modified":"2024-11-14T23:41:47","modified_gmt":"2024-11-14T16:41:47","slug":"polymarket-founder-awakes-to-find-feds-raiding-his-new-york-home","status":"publish","type":"post","link":"https:\/\/hotvideos24.online\/?p=125912","title":{"rendered":"Polymarket founder awakes to find Feds raiding his New York home"},"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>With those four words\u00a0<a href=\"https:\/\/x.com\/shayne_coplan\/status\/1856808022481539192\" target=\"_blank\" class=\"sc-93594058-0 fowfrQ  \" aria-label=\"Go to https:\/\/x.com\/shayne_coplan\/status\/1856808022481539192\" rel=\"noopener\">posted<\/a>\u00a0on social media, Polymarket\u2019s 26-year old\u00a0<a href=\"https:\/\/fortune.com\/crypto\/2024\/11\/03\/polymarket-ceo-shayne-coplan-crypto-betting-site-us-presidential-election-harris-trump-odds\/\" target=\"_self\" class=\"sc-93594058-0 fowfrQ  \" aria-label=\"Go to https:\/\/fortune.com\/crypto\/2024\/11\/03\/polymarket-ceo-shayne-coplan-crypto-betting-site-us-presidential-election-harris-trump-odds\/\" rel=\"noopener\">founder<\/a>\u00a0Shayne Coplan made light of a Kafkaesque turn of events that began when he reportedly woke on Wednesday to find FBI agents raiding his New York City apartment.<\/p>\n<p>The exact reasons for the raid\u2014during which Coplan\u2019s mobile phone and electronics were confiscated\u2014have not yet been fully revealed, though Americans are barred by law from gambling on offshore and unregulated betting platforms like Polymarket. But the blockchain-based prediction market company has already blasted the raid as \u201cobvious political retribution by the outgoing administration\u201d in\u00a0<a href=\"https:\/\/www.reuters.com\/world\/us\/fbi-raids-polymarket-ceos-home-seizing-phone-electronics-ny-post-reports-2024-11-13\/\" target=\"_blank\" class=\"sc-93594058-0 fowfrQ  \" aria-label=\"Go to https:\/\/www.reuters.com\/world\/us\/fbi-raids-polymarket-ceos-home-seizing-phone-electronics-ny-post-reports-2024-11-13\/\" rel=\"noopener\">comments<\/a>\u00a0made to multiple news outlets.\u00a0<\/p>\n<p>Polymarket odds greatly favoring Donald Trump were an <a href=\"https:\/\/fortune.com\/2024\/10\/22\/trump-musk-harris-election-presidency-polymarket-crypto\/?utm_source=search&amp;utm_medium=suggested_search&amp;utm_campaign=search_link_clicks\" target=\"_self\" class=\"sc-93594058-0 fowfrQ  \" aria-label=\"Go to https:\/\/fortune.com\/2024\/10\/22\/trump-musk-harris-election-presidency-polymarket-crypto\/?utm_source=search&amp;utm_medium=suggested_search&amp;utm_campaign=search_link_clicks\" rel=\"noopener\">early predictor<\/a> of the groundswell of support that would sweep the former president back into the White House and wrest away the last remaining levers of the federal government still controlled by the Democrats.\u00a0<\/p>\n<p>Now as the final days run out on the Biden presidency, the search of Coplan\u2019s residence and seizure of his personal belongings have raised questions over motive and proportionality.\u00a0<\/p>\n<h2 class=\"wp-block-heading\">\u2018Last ditch effort\u2019 to prosecute hostile companies?<\/h2>\n<p>Many critics of the move, including in the crypto industry. are asking whether the administration deployed law enforcement resources just to gather evidence that might prove some Americans were illegally betting on his offshore platform, as <em>Bloomberg<\/em> <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-11-13\/polymarket-investigated-by-doj-for-letting-us-users-bet-on-platform\" target=\"_blank\" class=\"sc-93594058-0 fowfrQ  \" aria-label=\"Go to https:\/\/www.bloomberg.com\/news\/articles\/2024-11-13\/polymarket-investigated-by-doj-for-letting-us-users-bet-on-platform\" rel=\"noopener\">reported<\/a> on Wednesday, or whether an early morning raid at this juncture constituted harassment.<\/p>\n<p>Brian Armstrong, who runs the regulated, onshore cryptocurrency exchange <a href=\"https:\/\/fortune.com\/company\/coinbase\/\" target=\"_blank\" class=\"sc-93594058-0 fowfrQ  \" aria-label=\"Go to https:\/\/fortune.com\/company\/coinbase\/\" rel=\"noopener\">Coinbase<\/a>, cautioned that such heavy-handed measures could backfire on the Biden administration, <a href=\"https:\/\/x.com\/brian_armstrong\/status\/1856901309934571646\" target=\"_blank\" class=\"sc-93594058-0 fowfrQ  \" aria-label=\"Go to https:\/\/x.com\/brian_armstrong\/status\/1856901309934571646\" rel=\"noopener\">adding<\/a>\u00a0it \u201cdoesn\u2019t look good\u201d.<\/p>\n<p><em>Fortune<\/em>\u00a0has attempted to contact the Federal Bureau of Investigations and U.S. Justice Department, while Polymarket could not be reached for additional comment.<\/p>\n<p>The timing risks pulling the public\u2019s attention away from the Trump transition team\u2019s announcement it plans to put Rep. Matt Gaetz in charge of federal law enforcement, indirectly <a href=\"https:\/\/fortune.com\/2024\/11\/13\/matt-gaetz-just-resigned-from-congress-ending-probe-doj-trump\/\" target=\"_self\" class=\"sc-93594058-0 fowfrQ  \" aria-label=\"Go to https:\/\/fortune.com\/2024\/11\/13\/matt-gaetz-just-resigned-from-congress-ending-probe-doj-trump\/\" rel=\"noopener\">ending an ethics probe<\/a> into the Florida congressman just as a potentially damaging misconduct report was <a href=\"https:\/\/www.newsweek.com\/matt-gaetz-investigation-report-could-released-how-attorney-general-1985589\" target=\"_blank\" class=\"sc-93594058-0 fowfrQ  \" aria-label=\"Go to https:\/\/www.newsweek.com\/matt-gaetz-investigation-report-could-released-how-attorney-general-1985589\" rel=\"noopener\">set to be released<\/a>.<\/p>\n<p>\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, before adding the dawn raid would not alter his company\u2019s non-partisan stance.\u00a0<\/p>\n<h2 class=\"wp-block-heading\">Coplan\u2019s advice for the Democrats <\/h2>\n<p>While pollsters were still showing odds at a coin toss, Polymarket correctly foresaw Trump retaking the \u2018Blue Wall\u2019 of Wisconsin, Michigan and Pennsylvania and flipping back all the states that had swung to Biden in 2020.\u00a0<\/p>\n<p>One <a href=\"https:\/\/fortune.com\/2024\/11\/02\/french-whale-polymarket-30-million-donald-trump-election-bet-kamala-harris\/?utm_source=search&amp;utm_medium=suggested_search&amp;utm_campaign=search_link_clicks\" target=\"_self\" class=\"sc-93594058-0 fowfrQ  \" aria-label=\"Go to https:\/\/fortune.com\/2024\/11\/02\/french-whale-polymarket-30-million-donald-trump-election-bet-kamala-harris\/?utm_source=search&amp;utm_medium=suggested_search&amp;utm_campaign=search_link_clicks\" rel=\"noopener\">French national<\/a> made an outsized $30 million-plus bet on Trump after analysing polls that asked <a href=\"https:\/\/www.wsj.com\/finance\/how-the-trump-whale-correctly-called-the-election-cb7eef1d\" target=\"_blank\" class=\"sc-93594058-0 fowfrQ  \" aria-label=\"Go to https:\/\/www.wsj.com\/finance\/how-the-trump-whale-correctly-called-the-election-cb7eef1d\" rel=\"noopener\">which presidential candidate voters believed their neighbor would back<\/a>\u2014a tactical approach employed to reveal shy Trump supporters.<\/p>\n<p>Yet\u00a0<em>Fortune<\/em>\u00a0also <a href=\"https:\/\/fortune.com\/crypto\/2024\/10\/30\/polymarket-trump-election-crypto-wash-trading-researchers\/?utm_source=search&amp;utm_medium=suggested_search&amp;utm_campaign=search_link_clicks\" target=\"_self\" class=\"sc-93594058-0 fowfrQ  \" aria-label=\"Go to https:\/\/fortune.com\/crypto\/2024\/10\/30\/polymarket-trump-election-crypto-wash-trading-researchers\/?utm_source=search&amp;utm_medium=suggested_search&amp;utm_campaign=search_link_clicks\" rel=\"noopener\">revealed<\/a> evidence of potential market manipulation through so-called wash trading, a problem common to exchanges that use the blockchain to validate transactions between anonymous accounts rather than central counterparties.<\/p>\n<p>Coplan, whose firm counts conservative donor Peter Thiel\u2019s Founders Fund as an investor, had some advice in hindsight for the Democrats after they lost support among nearly every demographic across the political spectrum.\u00a0<\/p>\n<p>\u201cThe incumbents should do some self-reflecting,\u201d wrote the Polymarket founder \u201cand recognize that taking a more pro-business, <a href=\"https:\/\/fortune.com\/2024\/07\/17\/president-election-donald-trump-joe-biden-marc-andreessen-ben-horowitz-ventue-capital\/\" target=\"_self\" class=\"sc-93594058-0 fowfrQ  \" aria-label=\"Go to https:\/\/fortune.com\/2024\/07\/17\/president-election-donald-trump-joe-biden-marc-andreessen-ben-horowitz-ventue-capital\/\" rel=\"noopener\">pro-startup<\/a> approach may be what would have changed their fate this election.\u201d<\/p>\n<\/div>\n<div data-cy=\"subscriptionPlea\"><b>How many degrees of separation are you from the globe&#8217;s most powerful business leaders? <\/b>Explore who made our brand-new list of the <a href=\"https:\/\/fortune.com\/ranking\/most-powerful-people\/?&amp;itm_source=fortune&amp;itm_medium=article_tout\" target=\"_self\" class=\"sc-93594058-0 fowfrQ  \" aria-label=\"Go to https:\/\/fortune.com\/ranking\/most-powerful-people\/?&amp;itm_source=fortune&amp;itm_medium=article_tout\" rel=\"noopener\">100 Most Powerful People in Business<\/a>. Plus, learn about the metrics we used to make it.<\/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:\/\/fortune.com\/2024\/11\/14\/polymarket-founder-shayne-coplan-home-raided-donald-trump-prediction-markets\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>With those four words\u00a0posted\u00a0on social media, Polymarket\u2019s 26-year old\u00a0founder\u00a0Shayne Coplan made light of a Kafkaesque turn of events that began when he reportedly woke on Wednesday to find FBI agents &hellip; <a href=\"https:\/\/hotvideos24.online\/?p=125912\" 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-125912","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\/125912","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=125912"}],"version-history":[{"count":0,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/125912\/revisions"}],"wp:attachment":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=125912"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=125912"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=125912"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}