JPMorgan shuttered its banking relationship with predictions platform Polymarket: FT
JPMorgan Chase has ended its banking relationship with the prediction market platform Polymarket due to regulatory concerns. Despite the split, the bank maintains professional ties with the platform's leadership and is reportedly interested in underwriting a potential future IPO.
Why it matters
This move reflects the ongoing tension between traditional financial institutions and the crypto sector, particularly regarding regulatory compliance for prediction markets.
In October 2025 the bank told Polymarket it would have to secure a different banking partner amid regulatory worries. Polymarket has already moved to another lender, though that firm’s name remains undisclosed, the FT report said.
Polymarket was barred from serving U.S. users in 2022 after the CFTC hit the platform with a $1.4 million settlement for running an unregistered derivatives trading venue. The company nonetheless returned to the U.S. market in late 2025 once the Trump administration loosened federal rules.
Even after cutting the formal banking link, JPMorgan has reportedly kept some connection. For instance, it invited Polymarket CEO Shayne Coplan to address a private client conference in February 2026 and is still angling for a role underwriting any future IPO.
CoinDesk reached out to Polymarket for a comment on the matter.
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