JPMorgan Ditches Polymarket Amid Regulatory Woes

Polymarket, a prediction market platform, has lost its banking ties with JPMorgan Chase due to regulatory concerns. The Commodity Futures Trading Commission (CFTC) enforcement action in October 2025 restricted U.S. customer access, prompting JPMorgan to cut the relationship.

The CFTC action is part of a broader effort to regulate prediction markets and prevent potential abuse. Polymarket's move to maintain some business ties with JPMorgan suggests that it is seeking to adapt to changing regulatory landscapes.

Additionally, Polymarket is under investigation by the New York City Council for alleged deceptive marketing practices targeting minors. The platform is working with a new lender and seeks to raise $1 billion in funding at a valuation above $20 billion.