JPMorgan Ends Banking Relationship With Polymarket

JPMorgan ended its banking relationship with prediction market platform Polymarket in late 2025, citing regulatory concerns, according to the Financial Times.

The bank informed Polymarket in October 2025 that it would need to find another banking partner because of regulatory issues. Polymarket has since switched to a different lender, although the identity of the new banking provider has not been disclosed, the report said.

Polymarket was prohibited from operating in the U.S. market in 2022 after the Commodity Futures Trading Commission imposed a $1.4 million settlement on the company for operating an unregistered derivatives trading platform. The prediction market later returned to the U.S. in late 2025 following a relaxation of federal regulations under the Trump administration.

Despite ending the formal banking relationship, JPMorgan has reportedly maintained ties with Polymarket. The bank invited CEO Shayne Coplan to speak at a private client conference in February 2026 and is also reportedly seeking a role in underwriting a potential future initial public offering.

CoinDesk contacted Polymarket for comment on the reported banking split.