CEO of Election Betting Company that Predicted Trump Win Has Electronic Devices Seized by FBI in Surprise Raid

Shayne Coplan, the 26-year-old CEO of Polymarket, a betting company that predicted Donald Trump would win the presidential election, was raided by the FBI Wednesday morning and forced to hand over his phone and other electronic devices.

It's "grand political theater at its worst," a source told The New York 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 told the reason for the raid, but the source told The Post they believe it was politically motivated. Polymarket circumvented traditional polls and accurately predicted Trump would beat Kamala Harris by a landslide, leading some to accuse the platform of market manipulation and rigging the polls in favor of Trump.

Coplan was not arrested and has not been charged, according to The Post, but he did post on X hours after the raid, making light of the FBI seizure.

"new phone, who dis?," Coplan wrote.

Originally published by Latin Times