JPMorgan ended Polymarket banking relationship in 2025

JPMorgan Chase ended its banking relationship with prediction market Polymarket in October 2025 over regulatory concerns and told the company to find another bank, the Financial Times reported on Aug. 14. Summary JPMorgan ended Polymarket’s banking relationship in October 2025 and directed it toward another banking partner. Polymarket has since moved to another bank while retaining other commercial relationships with JPMorgan entities. JPMorgan invited CEO Shayne Coplan to a February conference and reportedly seeks potential IPO underwriting. Polymarket is reportedly seeking roughly $1 billion at a valuation exceeding $20 billion from investors. Polymarket’s U.S. exchange operates through CFTC designated QCX while federal and state regulatory disputes continue. Polymarket has since moved to an unidentified banking partner. The account closure did not end all business between the companies. Polymarket told the FT it maintains “a close, active relationship with JPMorgan across multiple entities, operational integrations and material handling of customer fund flows.” JPMorgan declined to comment. The company’s description of the remaining relationship has not been independently detail...