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FBI Raids Home of Polymarket CEO Shayne Coplan

(www.axios.com)
249 points jaboutboul | 1 comments | 13 Nov 24 21:29 UTC | HN request time: 0.2s | source
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underseacables ◴[13 Nov 24 21:34 UTC] No.42130248[source]▶
I think the key factor here is that the website allowed Americans to bet on the political market. Which I still don't quite understand, the FBI waiting until after the election for this. Why didn't they go after them sooner?

Feels wrong.

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bigtechennui ◴[13 Nov 24 21:44 UTC] No.42130348[source]▶
One explanation is it gives Polymarket more rope to hang themselves with. Trading volume likely spiked in the lead up, and during, election night. Big numbers make for splashier headlines.

Another could be concern of doing anything visibly election related prior to the election, in case the winner didn’t like the action.

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inglor_cz ◴[13 Nov 24 21:54 UTC] No.42130477[source]▶
While I understand that logic, I also find it a bit distasteful. Law enforcement shouldn't tolerate crimes being committed on its watch any longer than necessary.

Of course, the exact meaning of "necessary" is the problem. We can probably all agree that letting a serial murderer kill more people in order to have more evidence against him would be an absolute abomination. But the situation is not that clear with white-collar crime, especially the sort of crime where the harm is not immediately obvious.

Maybe the fact that the FBI could wait that long before pouncing indicates that this sort of betting is, in fact, a victimless crime.

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1. dopamean ◴[13 Nov 24 22:32 UTC] No.42130932[source]▶
They probably have a different definition of what is "necessary" than you. If waiting for further crimes to be committed makes the case more of a sure thing in their eyes) then it's necessary. Or if it gives them more serious crimes to prosecute or a higher up person to prosecute. I believe this is common in organized crime investigations.