The Federal Bureau of Investigation seized the phone of Polymarket founder and CEO Shayne Coplan Wednesday, setting off a wave of complaint from crypto boosters who say the raid was politically motivated.

Polymarket surged to prominence as a platform for betting on the U.S. presidential election. Here's what you need to know about its founder Shayne Coplan.

The prediction-market startup accused the Biden administration of retaliation for calling the election for Donald Trump.