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JPMorgan ends banking relationship with Polymarket amid regulatory concerns

Polymarket was barred from serving U.S. users in 2022 after a $1.4 million CFTC settlement, then returned to the U.S. in late 2025 after federal rules were loosened.

Reported · Written up by our desk · Market Structure

JPMorgan Chase ended its banking relationship with Polymarket, a decentralized prediction market, in late 2025 amid regulatory concerns, the Financial Times reported.

According to the report, JPMorgan told Polymarket in October 2025 that it would need to find a different banking partner, and Polymarket later moved to another lender, though the new firm’s name was not disclosed.

Polymarket had been barred from serving U.S. users in 2022 after the CFTC imposed a $1.4 million settlement over allegations that the platform operated an unregistered derivatives trading venue.

The report also said that even after cutting the formal banking link, JPMorgan reportedly maintained some involvement, including inviting Polymarket CEO Shayne Coplan to speak at a private client conference in February 2026 and exploring opportunities related to underwriting any future IPO.

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