JPMorgan Dumps Polymarket Amid Regulatory Worries

JPMorgan Chase severed its banking ties with Polymarket in late 2025 due to regulatory concerns, according to a Financial Times report.

The decision came as Polymarket was working to reestablish its presence in the US following a regulatory settlement that previously prevented it from serving users in the region.

In January 2022, the Commodity Futures Trading Commission (CFTC) fined Polymarket's parent company, Blockratize, $1.4 million for operating an unregistered derivatives exchange and required the platform to wind down non-compliant markets.

Polymarket has since taken steps to return to the US market, acquiring QCX and QC Clearing in 2025 and securing a CFTC staff letter providing limited no-action relief for certain reporting and recordkeeping requirements.