JPMorgan cuts Polymarket banking ties over regulatory concerns: Report
Abstract:JPMorgan Chase ended its banking relationship with prediction market platform Polymarket over regulatory concerns, according to the Financial Times. The bank reportedly notified Polymarket in October 2025 that it needed to find another lender, and Polymarket now works with an unidentified bank. However, JPMorgan has reportedly maintained other ties, including potential interest in an underwriting role if Polymarket pursues an initial public offering. Polymarket stated it continues to have a “close, active relationship” with the bank. The development comes amid growing regulatory scrutiny of prediction markets in the U.S. and abroad, with multiple states taking legal action against Polymarket or Kalshi over sports contracts and several countries restricting access to the platform.
JPMorgan Chase ended a banking relationship with Polymarket over regulatory concerns, according to the Financial Times.
JPMorgan notified the prediction market platform in October 2025 that it needed to find a new bank, the Financial Times reported Friday, citing people familiar with the matter. Polymarket now works with an unidentified lender.
Still, JPMorgan has maintained other ties with Polymarket. The bank is allegedly keen on a potential underwriting role should Polymarket attempt to go public. Polymarket reportedly said that it continues to have a “close, active relationship” with JPMorgan.
Cointelegraph has approached JPMorgan and Polymarket for comment.
Prediction markets are facing increasing regulatory scrutiny in the US and abroad. More than a dozen US states have taken legal action against Polymarket, Kalshi or both over sports event contracts, while authorities in several countries have also blocked or restricted access to Polymarket.
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