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★ Government Action

DOJ drops Polymarket probe, clearing path for US reentry

Corporate FavorsCrypto DeregulationTrump Family Business Dealings

Filed July 2025

★ The Brief

What happened

DOJ closed the investigation without charges. The probe began with a November 2024 FBI raid on CEO Shayne Coplan's home, over alleged violations of a 2022 CFTC settlement barring Polymarket from U.S. bets.

Who enabled it

Who benefits

Deal or steal?

Within weeks of the closure, Trump Jr.'s firm 1789 Capital invested in Polymarket and placed him on its advisory board. Trump's own Truth Social later launched a competing prediction market.

In July 2025, Bloomberg reported that the US Department of Justice ended its investigation into Polymarket — a crypto prediction market — without bringing any charges. The probe had been opened in November 2024 when the FBI raided the home of Polymarket CEO Shayne Coplan over alleged violations of a 2022 CFTC settlement that barred the platform from accepting US bets. The closure of the investigation cleared the way for Polymarket to return to the US market. The Trump administration has broadly instructed prosecutors to deprioritize certain crypto-related enforcement actions.

Actors

Who pushed it · 1

Who initiated, paid, or pushed the action.

  • U.S. Department of Justice
    U.S. Department of Justice

    Ended its investigation into Polymarket without filing charges, removing a major legal barrier to the platform's return to the US market.

    U.S. Department of Justice has paid into Trump’s orbit:

Beneficiaries

Who gained · 2

Who stood to gain.

  • Shayne Coplan

    Polymarket CEO who had been the subject of an FBI device seizure in October 2024; received no criminal charges following closure of the DOJ investigation.

  • Polymarket
    Polymarket

    Had its DOJ probe dropped without charges, enabling it to pursue reentry into the US prediction market after years of exclusion under a CFTC settlement.

Sources

Further reading