FBI raids home and seizes phone of Polymarket founder

[suegeo]

Source: The Guardian

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, woke early on Wednesday morning in Manhattan to federal agents in his home, the New York Post first reported. Coplan himself was not arrested, the company said.

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.

Read more: https://www.theguardian.com/technology/2024/nov/13/fbi-raid-polymarket-founder-trump-election

[suegeo]

1. KICK

[suegeo]

2. Fishy stuff. KICK

[suegeo]

3. Fishy

[suegeo]

4. French regulator probes Peter Thiel-backed betting platform

https://www.politico.eu/article/french-regulator-opens-probe-into-election-betting-platform-polymarket/

The French National Gaming Authority is investigating crypto betting platform Polymarket, the regulator told POLITICO on Thursday.

"We are familiar with this site and are currently examining its operation and compliance with France's legislation on gambling," the National Gaming Authority said.

Polymarket is a platform that allows users to bet with cryptocurrency on the outcome of various high-profile events and it surged in popularity during the U.S. presidential election. In May, tech billionaire Peter Thiel's Founders Fund led a $45 million round of investment into Polymarket.

[Wonder Why]

5. For a big enough offering, Trump will end that investigation.