JPMorgan Severs Banking Link With Polymarket

JPMorgan Chase reportedly ended its banking arrangement with prediction market Polymarket toward the end of 2025, with regulatory concerns behind the decision, the Financial Times reported.

The bank notified Polymarket in October 2025 that it would have to seek banking services elsewhere. The prediction market has since moved to another lender, although the identity of the new institution has not been disclosed.

Polymarket had already faced significant regulatory action in the U.S. In 2022, the Commodity Futures Trading Commission imposed a $1.4 million settlement on the company for operating an unregistered derivatives platform and prohibited it from serving U.S. customers. The platform later resumed U.S. operations in late 2025 as federal authorities under the Trump administration relaxed restrictions.

Despite ending its formal banking relationship, JPMorgan has continued to maintain some links with Polymarket. The bank invited CEO Shayne Coplan to speak at a private client conference in February 2026 and has reportedly remained interested in underwriting a potential Polymarket IPO.

CoinDesk reached out to Polymarket for comment on the reported termination of the banking relationship.