- The CEO of Polymarket said that he is disappointed by the actions of the DOJ and FBI and has compared the move to an irrelevant suppression.
- Talking about the funds, Polymarket has never accepted that the platform has been funded by or in league with any American political forces.
- It is also not clear that the newly elected president Donald Trump who has so far cleared his stand over crypto in a political rally will support the platform.
Polymarket is under scrutiny by the Department of Justice as it claims that the platform has allowed users from America to way into its Polygon-based event contract website, regardless of being banned from having its operations in the United States.
Bloomberg, an American media outlet, has shared a report in which it is mentioned that the DOJ’s scrutiny came just a few hours after Federal Bureau of Investigation officers unexpectedly visited Polymarket’s chief executive officer, Shayne Coplan.
On November 14, the FBI raided the CEO’s Soho apartment and captured some devices without disclosing any reason.
Coinbase CEO’s stance over the matter
The CEO of Coinbase, Brian Armstrong has commented on the matter over a social media platform that the scrutiny from the DOJ as well as the FBI may be driven due to political reasons. However, the post was deleted after giving reasons to wait for the facts to come and urging them to have patience.
Coplan has made a public statement over a social media platform, X which has somehow supported the thinking of Armstrong that the authorities of the United States have inspected the company based on unproven and alleged political affiliations.
Talking about the funds, Polymarket has never accepted that the platform has been funded by or in league with any American political forces. Polymarket has also relaunched severe know-your-customer checks to dismiss doubts. The decision has been taken after the allegations coming from mainstream media of manipulation and unapproved participation from the United States.
Polymarket CEO shows disappointment
The CEO of Polymarket said that he is disappointed by the actions of the DOJ and FBI and has compared the move to an irrelevant suppression by targeting considered political opponents. It is not clear till now whether the scrutiny of Polymarket from the Justice Department will hold up after the U.S. election results.
At the same time, it is also not clear that the newly elected president Donald Trump who has so far cleared his stand over crypto in a political rally will support the platform. Although, before the election results, the platform has predicted his victorious win.
