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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

#231

Post by [deleted] »

cdumler wrote: post #220
qgin wrote: post #172

Earlier quoted context omitted.

It’s a signal to the incoming President to protect them ASAP

> It is not clear what the FBI was seeking when numerous agents entered Coplan's apartment at around 6am, or if Coplan and/or Polymarket are the targets of an investigation. We have no information about why they are there, so you conclude it must be political retribution and they must be protected. THIS is why Trump won. So many people have zero critical thinking skills. When you see something that for which you have…

[deleted]

Re: FBI Raids Home of Polymarket CEO Shayne Coplan

#232

Post by troad »

caeril wrote: post #206
troad wrote: post #13

Earlier quoted context omitted.

Not GP, but I suspect it's the gambling part? Hence the name? Gambling is a destructive addition that the vast majority of participants cannot manage well. It harms not only them, but their children and their spouses. How many a kid's college fund has gone up in smoke? A lot of harm is done to very innocent people in pursuit of a ten second rush. (Much like all other addictions.) I also very respectfully disagree tha…

These markets are no more "gambling" than other markets are. A traditional sportsbook maintains a house vig anywhere from 5 to 15%, which is, indeed, a pretty fast path to ruin. They typically don't allow you to exit your position once you're committed. Polymarket's sports markets, in contrast, have comparable bid/ask spreads to financial markets (maybe slightly wider), and the market is liquid such that you can sell…

> These markets are no more "gambling" than other markets are.

Whoever said other markets aren't gambling?

> Polymarket's sports markets, in contrast, have comparable bid/ask spreads to financial markets (maybe slightly wider), and the market is liquid such that you can sell your contract to someone else whenever you want.

'Financial markets' is a slippery term - you could be using it to refer to traditional investing (holding a diversified share portfolio for years because you believe in the fundamentals of the companies in question), or you could be using it to refer to things like frenetic speculating in short-dated out-of-the-money 'binary option' contracts.

The former is not gambling (no 'rush', not generally addictive, very hard to go broke, mathematically sound), and the latter is absolutely 100% gambling (all rush, totally addictive, incredibly easy to lose your shirt, mathematically stupid). There have been many attempts at 'finance-washing' straight up gambling schemes in recent years, and I wouldn't be surprised if we see more crackdowns soon.

Pretending that betting on election results is some complex financial derivative that is totally magically immune to laws about gambling isn't going to fool any judge.

Re: FBI Raids Home of Polymarket CEO Shayne Coplan

#233

Post by PenisBanana »

cdumler wrote: post #220
qgin wrote: post #172

Earlier quoted context omitted.

It’s a signal to the incoming President to protect them ASAP

> It is not clear what the FBI was seeking when numerous agents entered Coplan's apartment at around 6am, or if Coplan and/or Polymarket are the targets of an investigation. We have no information about why they are there, so you conclude it must be political retribution and they must be protected. THIS is why Trump won. So many people have zero critical thinking skills. When you see something that for which you have…

Each of these are _completely_ invented and then dishonestly presented as valid:

- Using collected data to facility spear phishing campaigns. - Running a child pornography/sex trafficking ring. - Participating in dogfighting. - Been a back channel for selling trade secrets. - Had some people killed. - Routing all the information collected to foreign groups, like Russia. - or.. has the other half of messages to someone under investigation whose phone locked.

A real-world example of "zero evidence". Let's stick with "no lying". Also, in late 2024, giving the monstrously corrupt FBI the dishonesty-based benefit-of-the-doubt is beyond naive and comfortably in the realm of dishonest.

It has been days since I have seen such an example of "zero critical thinking skills"

Re: FBI Raids Home of Polymarket CEO Shayne Coplan

#234

Post by leshenka »

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

> If the CEO knew or was complicit in US citizens breaking laws

the frontpage being almost exclusively about US politics is kind of a giveaway

Re: FBI Raids Home of Polymarket CEO Shayne Coplan

#236

Post by throwaway2037 »

mrcode007 wrote: post #185
throwaway2037 wrote: post #148

Earlier quoted context omitted.

Wow, I never knew about this exchange: https://en.wikipedia.org/wiki/Iowa_Electronic_Markets Thank you to share. > Rules and limits > The IEM is neither regulated by the U.S. Commodity Futures Trading Commission (CFTC) nor by any other agency due to its academic focus and the small sums that are involved. Indeed, the IEM has received two no-action letters that extend no‑action relief. A speculator may put at risk in…

The structured part is because these options are most likely replicated with existing option products. A binary call can similarly be replicated with other options and packaged

    > A binary call can similarly be replicated with other options
I don't think that this statement is true. Using vanilla call and put options, it is not possible to exactly replicate a binary option. Please correct me if wrong.

Re: FBI Raids Home of Polymarket CEO Shayne Coplan

#237

Post by mandolingual »

bookofjoe wrote: post #212
qgin wrote: post #172

Earlier quoted context omitted.

It’s a signal to the incoming President to protect them ASAP

>Elon Musk, the richest man in the world and one of the president-elect’s closest advisors, wrote, “This seems messed up” in response to the news. https://www.theguardian.com/technology/2024/nov/13/fbi-raid-...

He shits out his perspective into every conversation and buys himself a bigger voice, let's not spread his drivel for him.

Re: FBI Raids Home of Polymarket CEO Shayne Coplan

#238

Post by hulitu »

cj wrote: post #118
ethagnawl wrote: post #71

Earlier quoted context omitted.

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.

> Such a weird thing to blame it on.

Yeah, should't be weird, should be obvious. (lobby, insider trading, etc)

Re: FBI Raids Home of Polymarket CEO Shayne Coplan

#239

Post by hulitu »

cpr wrote: post #219
cj wrote: post #118

Earlier quoted context omitted.

Blaming the incident on “political retribution” (their words) implies that the US government is corrupt. Such a weird thing to blame it on.

Are you joking? The current US government is the most corrupt entity in the history of the world, if you multiple corruption times power. And I love my country (USA), but just hate what the government has become over the past 60-80 years.

> The current US government is the most corrupt entity in the history of the world

Current ? "Mark Twain: 'There is no distinctly American criminal class - except Congress'"

Re: FBI Raids Home of Polymarket CEO Shayne Coplan

#240

Post by z3ncyberpunk »

infecto wrote: post #57
orblivion wrote: post #43

Earlier quoted context omitted.

Kalshi got the goahead from an appeals court to list election bets. I think Robinhood added election bets soonafter. Is there a reason that wouldn't apply to Polymarket? Granted, Polymarket was operating before that ruling. https://www.reuters.com/legal/us-federal-court-upholds-rulin...

Has nothing to do with elections and all to do with being an unregulated market that has zero KYC.

An unrigged market like Robinhood*
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