JPMorgan ends banking ties with Polymarket over regulatory concerns

JPMorgan Chase terminated its banking relationship with the prediction market platform Polymarket in October 2025, citing regulatory concerns. While the bank ended its direct banking services, it reportedly maintains other commercial ties with the company and has expressed interest in serving as an underwriter for a potential initial public offering (IPO).

Polymarket has since moved its accounts to an undisclosed lender. The decision comes amid heightened scrutiny of prediction markets by U.S. regulators, including the Commodity Futures Trading Commission (CFTC), and various state-level authorities. Polymarket, which allows users to wager on events such as elections and sports, has previously faced legal challenges and fines related to its operations.

Despite the banking split, Polymarket spokesperson stated that the company maintains a “close, active relationship” with JPMorgan across multiple entities and operational integrations. This is supported by reports that Polymarket CEO Shayne Coplan has participated in several JPMorgan flagship events over the past year.