JPMorgan Chase ended its banking relationship with Polymarket in October 2025 due to regulatory concerns, the Financial Times reported this Friday, citing people familiar with the matter. The prediction market platform now operates with an unidentified bank.
Despite the cut, JPMorgan maintained other ties with Polymarket. The bank showed interest in acting as underwriter in a potential initial public offering process of the platform. Polymarket said it continues to have a close and active relationship with JPMorgan.
Cointelegraph reached out to JPMorgan and Polymarket for comment on the matter, but there was no response so far.
Growing regulatory scrutiny
Prediction markets face growing regulatory investigations in the United States and abroad. More than a dozen U.S. states have taken legal action against Polymarket, Kalshi, or both, related to sports event contracts. Authorities in several countries have also blocked or restricted access to Polymarket.
