JPMorgan Ditches Polymarket Banking Ties Amid Regulatory Scrutiny

JPMorgan Chase has ended its banking relationship with prediction market platform Polymarket due to regulatory concerns. According to the Financial Times, JPMorgan notified Polymarket in October 2025 that it needed to find a new bank. Despite this, JPMorgan is reportedly still interested in potentially underwriting Polymarket's initial public offering (IPO) if the company decides to go public.

Prediction markets are facing increasing regulatory scrutiny worldwide, with more than a dozen US states taking legal action against Polymarket and Kalshi over sports event contracts. Authorities in several countries have also blocked or restricted access to Polymarket.