PANews reported on November 14 that according to Bloomberg, people familiar with the matter revealed that Polymarket was investigated by the U.S. Department of Justice for allegedly allowing U.S. users to place bets on the platform. The U.S. Federal Bureau of Investigation (FBI) issued a search warrant for Polymarket CEO Shayne Coplan and seized his mobile phones and electronic devices. According to an agreement reached with the Commodity Futures Trading Commission in 2022, Polymarket is required to prevent U.S. traders from trading on the platform.
In a statement, Polymarket said it would "stand up for ourselves and our community" and accused the FBI of politically motivated searches. "Polymarket is a fully transparent prediction market that helps people better understand the events that matter most to them, including the election," the company said.
