JPMorgan Keeps Door Open for Polymarket's Potential IPO Amid Regulatory Scrutiny

Despite terminating its banking ties with Polymarket last year over regulatory concerns, JPMorgan Chase remains open to underwriting a potential IPO for the prediction market platform. This comes as Polymarket seeks to raise more than $1 billion at a valuation of about $20 billion, more than double its previous valuation in a 2025 fundraising round.

Polymarket has recently reported over $1 billion in annualized revenue and has generated more than $250 billion in notional trading volume so far in 2026. The platform's CEO, Shayne Coplan, was even invited to speak at a Miami conference for wealthy private banking clients hosted by JPMorgan in February.

Although the bank told Polymarket in October that it needed to find another banking partner, citing regulatory concerns, it appears JPMorgan still maintains other ties with the platform. 'They don't want to burn all their bridges,' a person close to the prediction platform told Financial Times.

Polymarket has faced regulatory attention from multiple authorities, including the Commodity Futures Trading Commission (CFTC) and several US states, which have taken legal action against the company for allegedly operating unlawful sportsbooks. The CFTC is also conducting an ongoing investigation into Polymarket.