FBI agents seize Polymarket CEO Shayne Coplan's phone in a search of his home

Polymarket/Polymarket exchange

Federal agents searched Polymarket CEO Shayne Coplan's New York home on November 13, 2024, and seized his phone and electronics. The Justice Department was investigating whether Polymarket allowed US users to trade in breach of its 2022 CFTC settlement. Coplan was not arrested or charged; the company called it political retribution.

• FBI search targeted CEO's residence; seized electronics and phone; no arrest or charges filed.
• Justice Department investigates alleged violation of 2022 CFTC settlement requiring US user blocking.
• Company statement: investigation is political retribution; Polymarket called itself a transparent prediction market.
• Americans reportedly circumvent blocking via VPNs; settlement does not permit US user access.