JPMorgan debanked Polymarket over regulatory concerns
Largest US bank has continued to cultivate ties with prediction platform as it seeks $20bn valuation
JPMorgan Chase reportedly severed banking ties with prediction market platform Polymarket in October 2025 due to regulatory concerns, though the bank remains interested in an underwriting role if Polymarket decides to go public, according to the Financial Times. JPMorgan informed Polymarket in October 2025 that it needed to secure a new banking partner, the outlet reported on Friday, citing sources familiar with the situation.
Polymarket has since partnered with an undisclosed institution. Nonetheless, JPMorgan has retained other connections with Polymarket, with the bank reportedly expressing interest in potentially underwriting the prediction market if it attempts to go public. Polymarket reportedly stated that it maintains a "close, active relationship" with JPMorgan.
Cointelegraph has reached out to JPMorgan and Polymarket for comment. The rise of prediction markets has drawn increasing regulatory scrutiny in the United States and internationally, with over a dozen U.S. states taking legal action against Polymarket and Kalshi over sports event contracts, while authorities in several countries have also restricted access to the platform.
Written by urgent.news from Cointelegraph's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
