JPMorgan Cuts Ties with Polymarket Amid Regulatory Uncertainty

JPMorgan Chase ceased providing banking services to Polymarket in October 2025 due to growing regulatory uncertainty, according to recent media reports.

The Financial Times highlighted that despite ending banking services, JPMorgan and Polymarket remain 'in close contact', with the investment bank seeking an underwriting role for the company's potential IPO.

Polymarket is reportedly exploring a new financial round that could push its valuation to $20 billion, with annualized revenue tripling to $1.2 billion, as per Bloomberg sources.

In response to claims of a strained relationship, Polymarket stated they maintain an 'active' and close relationship with JPMorgan, citing their CEO's appearances at the bank's flagship events and joint efforts in detecting insider trading.