How Polymarket predicted Trump: The inside story as FBI raids CEO's home

Shayne Coplan , the founder of the crypto-based prediction market Polymarket , was targeted by the FBI on Wednesday .

Coplan was the target of an FBI raid on Wednesday , with his phone and other electronic devices seized during the operation.

The site's electoral college forecast also favored Kamala Harris , albeit only slightly, in the weeks leading up to the election.

Polymarket operates on a peer-to-peer blockchain trading model.

Polymarket does not charge fees for trading shares on its platform, though trading will likely incur fees from third parties due to the necessary blockchain operations.

Polymarket is based on outcome betting, the odds determined by the measure of wagers on what people believe will happen, rather than what they hope might.

This may make Polymarket immune to some of the issues which pollsters said had led to underestimating Trump in the election.

Polymarket gave Trump virtually no chance of winning the popular vote, and his chances of securing all seven of the swing states stood at 16 percent .

Pew's Scott Keeter told Newsweek that the average poll miss in this election was "around two and a half points," which he said was a normal blunder by typical polling standards.