Polymarket CEO Shayne Coplan’s home was raided by the FBI early Wednesday morning after the Department of Justice launched an investigation into the betting platform for allegedly allowing U.S.-based users to place wagers.

The site’s popularity skyrocketed during the 2024 election season, with over $2.6 billion bet on the presidential election alone. Bettors accurately predicted President-elect Donald Trump’s decisive victory for the last month of the cycle. A Polymarket spokesperson said the raid was “obvious political retribution” for accurately predicting the election outcome.