CEO Shayne Coplan accuses Biden administration of targeting company over its perceived political associations.Authorities in the United States have raided the home of the chief executive of Polymarket, a betting platform that drew widespread attention for strongly favouring Donald Trump to win the presidential election.
The Federal Bureau of Investigation executed a search warrant on CEO Shayne Coplan at his Manhattan home on Wednesday.
The New York Post, which first reported the raid, said that Coplan, 26, was roused from bed at 6am by federal agents who demanded he turn over his phone and other electronic devices.
In a post on X, Coplan accused the outgoing administration of President Joe Biden of making a “last-ditch effort to go after companies they deem to be associated with political opponents”.
“We are deeply committed to being non-partisan, and today is no different, but the incumbents should do some self-reflecting and recognise that taking a more pro-business, pro-startup approach may be what would have changed their fate this election,” Coplan said.
Coplan added that Polymarket had provided “value” to tens of millions of people during the election campaign, while “causing harm to nobody”.
The FBI did not immediately respond to a request for comment.
The raid drew sharp criticism from a number of prominent figures in the tech world.
“What the f**** is wrong with this administration,” Brian Armstrong, the CEO of the crypto …
