JPMorgan Cuts Ties with Polymarket Over Regulatory Worries

JPMorgan Chase & Co. has reportedly severed its banking relationship with Polymarket due to regulatory concerns. According to an unattributed source, JPMorgan notified the prediction-market platform in October that it needed to find a new bank. This move is said to have been made over worries about compliance with existing regulations.

Polymarket has confirmed that it is now working with a new lender, although its identity remains unknown. The Financial Times reported on this development, citing unnamed sources.