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FBI Raids Home of Polymarket CEO Shayne Coplan

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Re: FBI Raids Home of Polymarket CEO Shayne Coplan

#111

Post by gexla »

nomilk wrote: post #84

As a former user of in-trade and more recently of poly market, it is so annoying that there are laws against these sites. They serve an incredibly important function: letting people learn what’s happening in the world around us by observing a single number (e.g. % win probability). I most receently used the site yesterday to see what the incumbent Australian government’s reelection chances are after they tabled ‘ID a…

When these sorts of things get in the cross-hairs of the government, it's often not so much "laws against" but rather the lack of laws / regulation. We have seen this with Poker, Crypto, Crypto Exchanges, the lost goes on. If you're operating at the edge, you probably need to be working closely with someone to make damn sure the laws are covering your ass. Or that the laws can be created / changed for the new industry. If you're not big enough to do this, then danger ahead.

Re: FBI Raids Home of Polymarket CEO Shayne Coplan

#112

Post by 1propionyl »

cft wrote: post #91
cperkins wrote: post #48

If this were aimed at Polymarket and their betting activities, then their lawyers would be getting subpoenas and the like, and a raid on their president would most likely be in concert with raids on their offices. AFAICT, it was only his person targeted. That the FBI raided the home of an individual most likely means a criminal investigation of that person, for a federal crime or a crime that crosses state boundaries…

https://x.com/disclosetv/status/1856841521334816928 they are investigating Polymarket itself

It is 2024... how are people still credulously using DiscloseTV as a source?

It's not about political inclination but rather that there's no reason to keep trusting a source that has lied repeatedly, sensationalized repeatedly, and seems to have a very loose relationship with being "journalism" rather than entertainment (bait).

Re: FBI Raids Home of Polymarket CEO Shayne Coplan

#113

Post by cft »

1propionyl wrote: post #112
cft wrote: post #91

Earlier quoted context omitted.

https://x.com/disclosetv/status/1856841521334816928 they are investigating Polymarket itself

It is 2024... how are people still credulously using DiscloseTV as a source? It's not about political inclination but rather that there's no reason to keep trusting a source that has lied repeatedly, sensationalized repeatedly, and seems to have a very loose relationship with being "journalism" rather than entertainment (bait).

What about Bloomberg?

https://www.bloomberg.com/news/articles/2024-11-13/polymarke...

Re: FBI Raids Home of Polymarket CEO Shayne Coplan

#114

Post by n2d4 »

underseacables wrote: post #77

We clearly don't have enough information about what went down, but betting on political outcomes should be legal. In my opinion, at least. If you can bet on a sports game, you should be allowed to bet on an election.

Election betting is legal. But that doesn't mean it's unregulated (which Polymarket is).

Re: FBI Raids Home of Polymarket CEO Shayne Coplan

#115

Post by cowsandmilk »

rty32 wrote: post #46
legitster wrote: post #4

Obviously there are no details yet, but I suspect it's as simple as: - Polymarket is still very illegal in the US - Lol. We all know it's easy to get around that - If the CEO knew or was complicit in US citizens breaking laws, he could be in trouble. And if there was evidence he was encouraging it, he could be in big trouble

The CEO or the company can only be in trouble if they are found guilty in court. That's not going to happen in the next two months, and Trump probably couldn't care less about this.

Trump not caring will mean the case proceeds. Why would they drop it?

Re: FBI Raids Home of Polymarket CEO Shayne Coplan

#116

Post by LewisVerstappen »

cperkins wrote: post #48

If this were aimed at Polymarket and their betting activities, then their lawyers would be getting subpoenas and the like, and a raid on their president would most likely be in concert with raids on their offices. AFAICT, it was only his person targeted. That the FBI raided the home of an individual most likely means a criminal investigation of that person, for a federal crime or a crime that crosses state boundaries…

[flagged]

Re: FBI Raids Home of Polymarket CEO Shayne Coplan

#117

Post by mikeyouse »

cryptica wrote: post #99
threeseed wrote: post #75

Earlier quoted context omitted.

The standard is (a) whether the act was illegal, (b) the company knew it was illegal and did it anyway. None of what you listed is relevant since it isn’t illegal for example to suppress speech or mislead the public.

The first amendment of the US constitutions says that it's illegal for the government to make a law which abridges people's freedom of speech. There are many cases of government entities working with social media companies to suppress speech as the Twitter Files have proved. As the government created and upholds those federal entities on the basis of laws, the government is responsible.

If you’ll humor me - what specifically did the Twitter files show in that regard?

Re: FBI Raids Home of Polymarket CEO Shayne Coplan

#118

Post by cj »

ethagnawl wrote: post #71
ronsor wrote: post #41

Earlier quoted context omitted.

The social/political appeal part is the new part. Companies have always released "we did nothing wrong" statements.

Yeah, the reflexive accusations of "witch hunts" and "crooked hit jobs" are a recent development. Their lineage is obvious and ... I guess you can't blame them because they (somehow) play with a significant percentage of the population.

Blaming the incident on “political retribution” (their words) implies that the US government is corrupt.

Such a weird thing to blame it on.

Re: FBI Raids Home of Polymarket CEO Shayne Coplan

#119

Post by mikeyouse »

CodeWriter23 wrote: post #68
stickfigure wrote: post #63

Earlier quoted context omitted.

Incorrect. A pardon does require a conviction, however. And it will probably never get that far.

Incorrect. There is no requirement that even an indictment has occurred in the past.

Hence how all the draft dodgers were pardoned after Vietnam.

Re: FBI Raids Home of Polymarket CEO Shayne Coplan

#120

Post by galleywest200 »

seizethecheese wrote: post #107
Terr_ wrote: post #101

Earlier quoted context omitted.

> letting people learn what's happening in the world around us I think that phrasing is a bit too optimistic. Even in cases where the "prediction" cannot influence the outcome, the primary "learning about the world" involves the imputed opinions of bettors. Betting at horse-races doesn't teach you nearly as much about horses as actually going to the stables. :P

These imputed opinions tend to do a better job than traditional news. On election night, polymarket was ahead of the news channels every step of the way. Edit: to be clear, I’m referring to polymarket essentially “calling” each swing state well before the networks did. I’m not just referring to the overall outcome.

I am not sure what that has to do with calling elections. The Associated Press calls who wins, not some random person with $5 to throw away.
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