Nov. 14 (UPI) — The FBI has raided the New York City home of betting website Polymarket’s founder and chief executive, according to reports.

The search of Shayne Coplan’s property was conducted Wednesday morning, The New York Times and the New York Post reported. His phone and other electronic devices were seized during the search, according to both media outlets.

The 26-year-old then made a post on X, stating, “new phone, who dis?”

In a second post, he lambasted the administration of President Joe Biden, characterizing the raid as an attack on a company associated with President-elect Donald Trump.

He then described Polymarket as committed to being non-partisan.

“The incumbents should do some self-reflecting and recognize that taking a more pro-business, pro-startup approach may be what would have changed their fate this election,” he said.

Polymarket is an online betting website that, during the recent election campaign, gave odds favoring Donald Trump to win the White House over Vice President Kamala Harris.

In 2022, the Commodity Futures Trading Commission entered an order fining Polymarket $1.4 million and preventing it from operating in the United States for failing to obtain registration.

The raid was part of a criminal investigation into whether Polymarket was allowing U.S.-based persons to use its services in violation of the 2022 order, The Times reported.

UPI has contacted Polymarket for comment.