The FBI has searched the home of the founder of Polymarket and seized his phone

ChainCatcher news, according to The New York Times, the Federal Bureau of Investigation (FBI) searched the home of the founder of the Polymarket betting site. Three insiders stated that the search of Polymarket founder Shayne Coplan is part of a criminal investigation.

Polymarket claims that the raid is retaliation against its users for overwhelmingly betting that Trump will win the election. The site showed a high probability of Trump winning before the election, while the likelihood of Harris winning was very low, which is inconsistent with most mainstream polling results.

Previous report, the U.S. Department of Justice is investigating the cryptocurrency prediction platform Polymarket, accusing it of accepting trades from U.S. users.