DOJ, CFTC Drop Polymarket Probes After FBI Raid, No Charges Filed

Eight months after FBI agents raided Polymarket CEO Shayne Coplan's Soho penthouse, federal authorities have closed their investigations without filing charges. The U.S. Justice Department and Commodity Futures Trading Commission (CFTC) quietly ended probes into whether the prediction market platform violated regulations by serving U.S. users without proper registration.

The resolution marks a dramatic reversal from November 2024, when armed agents stormed Coplan's home days after Polymarket accurately predicted election results. "Eight days later, the FBI broke down my door at 6 a.m. and took all my computers and phones," Coplan recounted on social media platform X, calling the episode traumatic but ultimately validating.

The abandoned investigations highlight growing regulatory uncertainty as Congress prepares landmark cryptocurrency legislation. Polymarket's survival suggests even heavily scrutinized crypto ventures can withstand Washington's crackdown—for now.