JPMorgan Chase reportedly ended its banking relationship with Polymarket in late 2025 amid concerns surrounding the prediction market’s regulatory status, according to the Financial Times.
The bank notified Polymarket in October 2025 that it would need to arrange banking services with another institution. Polymarket subsequently moved to a new lender, although the company has not disclosed the identity of its replacement banking partner.
Polymarket’s regulatory history in the U.S. has been a source of scrutiny. The platform was blocked from serving American customers in 2022 after the Commodity Futures Trading Commission imposed a $1.4 million penalty for operating an unregistered derivatives venue. It eventually reentered the U.S. market in late 2025 following a broader easing of federal crypto and prediction-market regulations under the Trump administration.
Although JPMorgan ended the direct banking arrangement, the relationship between the two companies appears to have continued in other forms. The bank invited Polymarket CEO Shayne Coplan to speak at a private client conference in February 2026 and has reportedly expressed interest in underwriting a potential Polymarket initial public offering.
CoinDesk reached out to Polymarket for comment regarding the reported decision.
