The FBI’s shocking predawn raid against the founder of election gambling site Polymarket was part of a criminal probe into whether the startup accepted bets from US users — which would violate a deal the company had made with the government,

FBI agents on Wednesday raided the home of Shayne Coplan, founder and CEO of the election-betting platform Polymarket. Agents seized Coplan's phone and electronics at his home in New York City, Polymarket said. The company is under investigation for allegedly allowing U.S.-based users to bet, Bloomberg reported .