JPMorgan Ditches Polymarket Over Regulatory Fears

JPMorgan Chase has ended its banking relationship with Polymarket due to regulatory concerns surrounding prediction markets.

The news comes as prediction market companies face growing scrutiny from regulators in the US and abroad. At least a dozen US states have filed legal cases against Polymarket and similar platforms over event-related contracts associated with sporting events.

Polymarket has shifted its banking operations to a new bank, though the name of this institution remains unknown. JPMorgan Chase had notified Polymarket in October 2025 that it would need to find a new banking partner due to these regulatory concerns.

JPMorgan and Polymarket still maintain a close relationship, with the possibility of collaborating on an IPO in the future being cited as one reason for the bank's desire to continue working with the company. However, this move highlights the challenges that crypto and blockchain firms face in maintaining banking relationships despite growing regulatory pressures.