Shayne Coplan, CEO of the online betting site Polymarket, had his home raided by federal authorities. NBC News' Valerie Castro reports on the criminal investigation into the election betting platform.

Polymarket's success predicting the 2024 presidential contest winner has sparked "political retribution," according to a new Decrypt report, which says FBI agents raided the Manhattan home of Polymarket CEO Shayne Coplan, 26, on Wednesday, seizing his phone.

The investigation, in part, involves whether Polymarket violated a prior settlement with the government by allowing American-based users access to its platform.