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Federal agents seized the electronics of Polymarket CEO Shayne Coplan early Wednesday morning. This comes just a week after the platform accurately predicted Donald Trump’s victory in the 2024 U.S. presidential election. The raid, carried out at Coplan’s Soho residence around 6:00 a.m., reportedly involved law enforcement officials demanding access to his phone and other electronic devices.
“This is grand political theater at its worst,” stated a source familiar with the situation, according to a New York Post report.
originally posted by: hangedman13
There where some rumblings about manipulation of the site by buy ups from the Harris campaign.
originally posted by: xuenchen
they will discover ......
Russians were behind everything!!
They'll be using fake witnesses and altered data from the devices confiscated.
🥶️🥥
In separate investigations completed by the blockchain firms Chaos Labs and Inca Digital and shared exclusively with Fortune, analysts found that Polymarket activity exhibited signs of wash trading, a form of market manipulation where shares are bought and sold, often simultaneously and repeatedly, to create a false impression of volume and activity. Chaos Labs found that wash trading constituted around one-third of trading volume on Polymarket’s presidential market, while Inca Digital found that a “significant portion of the volume” on the market could be attributed to potential wash trading, according to its report.
originally posted by: DontTreadOnMe
So what if he predicted the win?
It's not like the rumblings form the left didn't realize Harris was doomed?!?!?!!??
originally posted by: xuenchen
wait for it.....
they will discover ......
Russians were behind everything!!
They'll be using fake witnesses and altered data from the devices confiscated.
🥶️🥥
originally posted by: MetalThunder
2 weeks ago
Exclusive : Election betting site Polymarket gives Trump a 67% chance of winning but is rife with fake ‘wash’ trading, researchers say
Today, we are thrilled to announce that Chaos Labs has successfully closed a $55 million Series A funding round, led by Haun Ventures. This pivotal investment will fuel our mission to enhance onchain economic security through innovative risk management solutions.
Haun Ventures is a crypto-focused VC firm with a $500 million early-stage fund and a $1 billion acceleration fund. Portfolio firms include OpenSea, TaxBit, Sovereign Labs, and others. Haun Ventures is the namesake VC firm of Katie Haun, who previously worked at Andreessen Horowitz and was an attorney at the US Department of Justice. Haun posted an extended comment on Mónico joining her firm. She said that Mónico “brings personal experience building, leading, and growing a multi-billion-dollar company. In this way, he’s a perfect complement to our existing team.”
A Coinbase investor filed a complaint against current and former executives and board members, including CEO Brian Armstrong and Marc Andreessen. The lawsuit alleges that Armstrong, Andreessen, co-founder Fred Ehrsam, board members Kathryn Haun and Fred Wilson sold a collective $2.9 billion of stock in connection with the direct listing “all the while in possession of material, non-public information.”
Coplan has - until now - stayed out of the limelight. But after his site - which invited users to bet money on a given outcome - managed to foreshadow the results of the November 5 US election, he has been the subject of praise from Elon Musk and American statistician Nate Silver. Silver - one of many experts to predict the election would be extremely close - was so impressed that he joined the company as an adviser.
The young entrepreneur has kept his personal political leanings under wraps, but he recently went for breakfast with the Florida Governor Ron DeSantis. This is a breaking news story, please check back for updates...