JPMorgan cut Polymarket banking ties over regulatory concerns: Report

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 another unnamed lender.However, 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.Magazine: Why Argentina is blocking Polymarket despite its global growthCointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide...