JPMorgan Keeps Door Open for Potential Polymarket IPO Despite Terminating Banking Ties

JPMorgan Chase has terminated its banking relationship with Polymarket, a prediction market platform, due to regulatory concerns. However, the bank remains open to underwriting Polymarket's potential initial public offering (IPO), according to Financial Times.

Polymarket is seeking to raise more than $1 billion at a valuation of around $20 billion, more than double its 2025 fundraising round valuation of roughly $8 billion. The platform has reported over $1 billion in annualized revenue and has been involved in a Commodity Futures Trading Commission (CFTC) enforcement action.

JPMorgan's decision to terminate the banking relationship came after Polymarket was barred from serving US customers following the CFTC enforcement action in 2022. However, Polymarket returned to the US market in late 2025 after federal rules were loosened under the Trump administration.