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FBI raids Polymarket CEO's apartment amid fierce rivalry with Kalshi over prediction markets.

Market News
20 Jul 2026
New York Post
View Source
Bearish
FBI raids Polymarket CEO's apartment amid fierce rivalry with Kalshi over prediction markets.

The FBI raided Polymarket CEO Shayne Coplan's apartment in November 2024 following concerns raised by rival Kalshi about Polymarket's business practices, particularly regarding US users accessing restricted markets. The raid is part of a broader legal and regulatory battle between the two prediction market startups, which also face lawsuits over alleged illegal gambling. Kalshi denies involvement in the raid and accuses Polymarket of paranoia, while Polymarket suspects Kalshi of tipping off authorities and leaking information. Both companies operate under different regulatory frameworks, with Kalshi compliant with CFTC regulations and Polymarket operating largely offshore. The feud highlights growing tensions in the emerging prediction market industry.

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