The FBI conducted a search at the home of Polymarket CEO Shayne Coplan as part of an investigation into whether the platform operated as an unlicensed commodities exchange. The platform has faced scrutiny for allegedly allowing US users to place bets, violating a 2022 settlement with the Commodity Futures Trading Commission. Coplan expressed frustration with the government's actions and criticized the Biden administration for targeting companies associated with political opponents. Despite its success during the 2024 US presidential election, Polymarket has seen a decline in trading volume and active users. A trader known as "Théo" reportedly made over $85 million by betting on Trump's win.



Other News from Today