JP Morgan Keeps Door Open on Potential IPO Underwriting for Prediction Market Platform

JPMorgan Chase terminated its banking relationship with Polymarket last year due to regulatory concerns. However, the bank remains open to underwriting a potential initial public offering (IPO) for the prediction market platform.

Polymarket is seeking to raise over $1 billion at a valuation of about $20 billion, more than doubling its 2025 fundraising round valuation of around $8 billion. The platform has reported over $1 billion in annualized revenue.

JPMorgan ended its deposit banking relationship with Polymarket in October but remains in the running for an underwriting role if Polymarket lists publicly. 'They don't want to burn all their bridges,' a person close to the prediction platform told the Financial Times.