FBI reportedly raids Polymarket CEO's home after betting platform predicts Trump win

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it’s time for the hot topic of the hour the CEO of poly Market New York City home raided by the FBI yesterday happening just one week after the betting agency successfully predicted the outcome of the presidential election Fox Business is Lydia who now with all that is going on Lydia yeah good morning there Maria this happened yesterday morning the FBI raided the Manhattan home of 26-year-old poly Market CEO Shane coplan taking a cell phone and electronic devices from his Department that raid as you mentioned comes after the crypto predictions betting platform correctly predicted Donald Trump’s Victory last week contrary to opinion polling a spokesperson for the company called The Raid quote obvious political retribution by the outgoing Administration and coplan the CEO added this in an exp poost for himself quote it’s discouraging that the current Administration would seek a last ditch effort to go after companies they deemed to be associated with political opponent on the incumbents should do some self-reflection and recognize that taking a more Pro business pro startup approach may be what would have changed their fate this election now the FBI and doj did not immediately respond to our request for comments but the agencies are reportedly investigating poly market for allegedly accepting trades from us-based users as you know election betting was legalized in the US just this year by a Court ruling but poly Market is not licensed with the Commodities Futures Trading commission the platform is not supposed to be available in the US according to a settlement it reached with the government two years ago but poly Market gained a lot of attention in this election cycle around $ three5 billion dollars were wagered on the presidential election and Maria it also got the platform investment from Republican billionaire Peter teal who supported Trump back in 2016 and has also mentored JD Vance now since the election questions have been raised about some the betting activity on poly Market one Anonymous user reportedly cashed in huged over Trump’s Victory he was known as the Trump whale and reportedly made a profit of $85 million by betting Trump would win both the presidency and the popular vote the company says that he is a French national Maria all right Lydia thanks very much uh this is outrageous that the FBI is not going down easy they know president Trump is coming for them after all the behavior against Trump and what do they do they show up at Poly Market CEO’s home and raid the place at 6 o00 in the morning they They confiscated his phone his computer and his girlfriend’s computer as well Mark you Rea yeah so now he’s taking bets on whether or not he’s going to get raid it again right I mean poor guy they did nothing wrong I mean they accurately showed that the the money the smart money was on President Trump I can almost guarantee that if kamla Harris won the election there would have been no raid used do that using a VPN it’s going to happen right I mean and that has nothing to do with the way poly Market is run that is people who are trying to beat the system and they they go around so you know whether or not that happened is is a completely different question but it has nothing to do with the owner of poly Market running a clean and ethical business there are other prediction sites were they r why poly market and it also strikes me as as alarming they we’re talking about 28 FBI agents show up at this person’s door it’s 6 o’clock in the morning and we’re talking about a business that’s being and they’re questioning whether or not the business did business in the United States like is that normal is that what happens when people are questioning somebody’s business practices that you have 28 FBI in the while you’re sleeping total one thing to show up during working hours and say we’re concerned about business prors or question them but this is a extreme reaction that you can’t help but wonder what’s going on there and we I’ll tell you one thing it confirms the speculation that the doj and the FBI are running scared of Donald Trump coming back to the White House and it’s because they know what they’ve done to him yes beginning with the Russia collusion uh lie to the impeachments when they were sitting on Hunter Biden’s laptop to the indictments and the list is long they know what they’ve done to him they know he’s going to try to see some accountability and that’s what’s behind his nomination of Matt Gates he’s a bulldog and Trump wants a bulldog yes he wants someone to basically clean house and put these you know agencies in their place and I it does look like political retaliation I mean even Nate silver who’s an elections forecasting expert as we know is an adviser to poly market and and he’s often said that these betting markets really democratize election information for voters you know Financial Elites have been able to put on races with you know derivatives and other things but average Americans didn’t really have that chance and they do through these prediction markets which tend to be more informative in many ways than some models and so this is I think just a chilling Crackdown and you know I hope that one of the first moves of Matt Gates is to you know put this agency in its place you know it’s interesting because you never really see this kind of stuff with Democrats right I mean how many times have people questions how perfectly Nancy Pelosi and her husband invest gosh that’s many have have people questioned wow they bought Microsoft shock a couple of months before they got a big government contract wow I mean it’s just all the coincidences about how they invest never a question in terms of an investigation 28 FBI agents reading at 6: a.m. right not a Level Playing Field out there but you’re right I mean you know there there’s been questions about the the insider trading possibilities within Congress for quite some time with Nancy and Paul Pelosi being the biggest examples and there’s never any investigation right yeah but now we’ve got the founder and CEO of Po Market waking up to 28 FBI agents behind his door guns blazing and let’s just be clear no charges there were no charges dropped so we’ll see if there are any charges we should have known this would happen out of this Administration when they they wanted to hire 80,000 new IRS agents and arm them arm accountants wow wow what we are just getting started this hour we’ve got Experience Socialism

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