JPMorgan Ends Banking Relationship with Polymarket Amid Regulatory Concerns

JPMorgan Chase has ended its banking relationship with Polymarket due to regulatory concerns. The decision came in October 2025, and it's not a complete break from the company. Polymarket was working on transitioning towards a regulated US operation after facing a CFTC enforcement action in 2022.

The bank notified Polymarket that they needed to find a new banking partner, but this doesn't mean JPMorgan has stopped doing business with the company altogether. In fact, the bank hosted Polymarket's CEO at a client event and is reportedly considering an underwriting role if Polymarket pursues an IPO.

The decision came against the backdrop of Polymarket's US regulatory position evolving since 2022. The CFTC designated QCX LLC as a designated contract market in July 2025, and issued a no-action position concerning certain reporting and recordkeeping requirements for Polymarket US in December 2025.