JPMorgan Ditches Prediction Market Client Amid Regulatory Scrutiny

JPMorgan Chase ended its banking relationship with Polymarket in October 2025 due to regulatory concerns surrounding prediction markets. The Wall Street Journal reported that JPMorgan cited risks tied to these platforms, which operate under state gambling laws and are classified as financial products by the CFTC.

Despite the reported termination of their banking relationship, Polymarket maintains a close connection with JPMorgan Chase. CEO Shayne Coplan has spoken at three JPMorgan events in the past year and was invited to a private banking conference in February.

The incident highlights the challenges faced by prediction market operators amidst regulatory uncertainty. President Trump's executive order aimed at banning debanking practices and recent state-level litigation against Polymarket demonstrate the risks involved in operating within this space.