JPMorgan Cut Polymarket Banking Ties in 2025 Over Regulatory Concerns
Updated
Updated · Financial Times · Aug 14
JPMorgan Cut Polymarket Banking Ties in 2025 Over Regulatory Concerns
3 articles · Updated · Financial Times · Aug 14
Summary
October 2025, JPMorgan told Polymarket to find a new bank, ending the core banking relationship even though the prediction-market platform has since secured another lender.
The move came after Polymarket had been barred from serving US customers under a 2022 CFTC action, and despite its return to the US last year it still faces an ongoing federal investigation.
JPMorgan has not fully severed ties: it invited chief executive Shayne Coplan to a Miami client conference in February and is said to want to preserve a shot at any future IPO underwriting role.
The episode highlights broader bank caution toward prediction markets, a sector that has drawn lawsuits from more than a dozen states and logged over $250 billion in notional trading volume in 2026.