By: Tyler Durden

With just a few short weeks until President Trump (and his freshly appointed new AG Matt Gaetz) take over, the FBI has decided to rush in and raid the home of the founder and chief executive of Polymarket, the crypto-based prediction market that was a popular (and very accurate) platform for bets on the US presidential election.

The NY Post reports, citing a source close to the matter, that Shayne Coplan was woken up at 6:00 am Eastern Time in his New York City apartment by US law enforcement officials who demanded he hand over his phone and electronics.

It wasn’t immediately clear what prompted the FBI’s search but Polymarket quickly tied the raid to its track record in the recent election, in which bettors on its platform correctly anticipated that Donald Trump would beat Vice President Kamala Harris.

“This is obvious political retribution by the outgoing administration against Polymarket for providing a market that correctly called the 2024 presidential election,” said a spokesman for the New York-based company.

“Polymarket is a fully transparent prediction market that helps everyday people better understand the events that matter most to them, including elections,” the spokesman added.