30s Summary

Federal agents raided the house of Polymarket’s founder, Shayne Coplan, causing speculation about political retribution due to the platform’s accurate prediction of the 2024 US presidential election. Despite a ban, Americans are known to place bets, often using VPNs to bypass restrictions. The platform gained notability during past elections with bets amounting to billions of dollars. The incident has received confirmation from a Polymarket spokesperson and has been reported by major news agencies.

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So, it seems some serious drama went down on Wednesday when the feds decided to pop by the house of Polymarket’s big cheese, Shayne Coplan. This raid isn’t just some standard cop-drama fluff though, Polymarket actually hit the big leagues in the past U.S presidential election where enough bets were placed to worth billions of dollars. These were bets made on the race’s outcome, where a large portion of Polymarket traders predicted that Trump would take home the gold, which he did.

Now, to make things juicier, a spokesperson from Polymarket has verified that the raid did indeed take place. Even major news outlets like the New York Post and Axios are talking about it.

Smelling heavily of political revenge, the spokesperson’s statement read, “This is obvious political retribution by the outgoing administration against Polymarket for providing a market that correctly called the 2024 presidential election.” The spokesperson also insisted that Polymarket is a crystal-clear prediction market that gives regular Joes a better grasp on major events, including elections.

While it’s a no-no for Americans to trade on Polymarket, some manage to bypass this ban using VPNs, proving that where there’s a will, there’s a way.

Let’s keep our eyes peeled for more updates on this matter. The plot is getting thicker than grandma’s meatloaf.