JPMorgan Keeps Door Open for Polymarket IPO Despite Terminating Banking Ties

JPMorgan Chase had been banking Polymarket, a prediction market platform, but terminated their relationship last year due to regulatory concerns. The New York-based company has since moved its banking business to another lender.

The decision came at a sensitive time for Polymarket, which was prohibited from serving U.S. customers following a 2022 enforcement action by the Commodity Futures Trading Commission (CFTC). However, under the Trump administration, the CFTC allowed Polymarket to return to the U.S. market last year.

JPMorgan has not completely distanced itself from Polymarket and is interested in potentially securing an underwriting role if the company eventually pursues an initial public offering (IPO).