Polymarket CEO Suggests FBI Search May Have Political Motivations

Shane Coplan, CEO of decentralized prediction platform Polymarket, believes the recent FBI search of his devices may have political motives.

Coplan expressed his frustration via a tweet on Platform X, suggesting that the current administration may be targeting companies believed to support the political opposition in a last-ditch effort before leaving office.

He emphasized Polymarket’s nonpartisan mission, saying the platform remains dedicated to neutrality, especially during periods with important stakes like election season.

Polymarket has seen a surge in activity ahead of the US presidential election on 5 November, but has also faced increased scrutiny, with accusations that it manipulated data in favour of President-elect Donald Trump.

Polymarket has denied those allegations.

Reflecting on the current political climate, Coplan suggested that the administration could benefit from a more pro-business and pro-innovation stance.

He noted that a business-friendly approach may have influenced the election results, emphasizing the role of policies in shaping the economic and entrepreneurial landscape.