JPMorgan ends Polymarket banking, eyes IPO role

JPMorgan ended banking services for Polymarket in October 2025 over regulatory concerns but remains interested in underwriting its IPO. Polymarket has found a new banking partner.

JPMorgan Chase ended its formal banking relationship with prediction market platform Polymarket in October 2025, citing regulatory concerns. This decision followed earlier CFTC enforcement actions that barred Polymarket from serving U.S. customers. Despite the termination, Polymarket quickly secured a new, undisclosed banking partner and continues to maintain other business ties with JPMorgan. Notably, the bank has expressed interest in potentially underwriting Polymarket’s future IPO and has invited the company’s CEO to private events, signaling ongoing engagement beyond traditional banking services. This situation highlights Wall Street’s dilemma as prediction markets grow and attract regulatory scrutiny. Banks like JPMorgan must balance new business opportunities with compliance risks. Polymarket claims to maintain a close, active relationship with JPMorgan, while the bank has declined to comment on the specifics of their ongoing interactions.