JPMorgan Cuts Banking Ties with Polymarket Amid Regulatory Scrutiny

JPMorgan Chase has ended its direct banking relationship with Polymarket due to regulatory concerns. The decision was made in October 2025, amid growing scrutiny of prediction markets from US regulators. However, certain commercial ties between JPMorgan and Polymarket remain intact.

Polymarket CEO Shayne Coplan continues to maintain 'close, active relationships' with JPMorgan through various entities. In fact, JPMorgan even invited its wealth management division clients to participate in Polymarket's Series E round in April 2025, which valued the company at $14.5 billion.

The move by JPMorgan comes as prediction markets face increased regulatory pressure. The US Commodity Futures Trading Commission is investigating Polymarket, and several states are suing the platform over whether it should be classified as gambling. Additionally, regulators in various countries have blocked or restricted access to Polymarket due to licensing issues.