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JPMorgan Debanks Polymarket
JPMorgan Chase ended its banking relationship with prediction-market platform Polymarket in October 2025 over regulatory concerns, according to the Financial Times as cited by BitKE.
“JPMorgan Chase ended its banking relationship with prediction-market platform Polymarket in October 2025 over regulatory concerns”
BitKE reported that JPMorgan told Polymarket to find another lender, and that Polymarket has since moved its accounts to that new bank.
The dispute sits on top of Polymarket’s 2022 enforcement history, when the U.S. Commodity Futures Trading Commission fined it $1.4 million for operating an unregistered derivatives platform.
BitKE also said France was the latest jurisdiction to restrict access to Polymarket by blocking access within the country.
Separately, Finanzen.net said JPMorgan notified Polymarket in October 2025 that it needed to find a new bank, while JPMorgan continued to maintain other ties with Polymarket.
Regulators Expand Scrutiny
BitKE said the U.S. Commodity Futures Trading Commission expanded its investigation into Polymarket to examine allegations of staged trades and fabricated winning bets.
The same BitKE item framed the shift as regulatory scrutiny widening beyond previously reported concerns over undisclosed influencer marketing.
Finanzen.net tied the broader pressure to prediction markets facing increasing regulatory scrutiny in the US and abroad, adding that more than a dozen US states have taken legal action against Polymarket, Kalshi or both over sports event contracts.
Finanzen.net also said authorities in several countries have blocked or restricted access to Polymarket.
In the background of the banking cutoff, Finanzen.net reported that Polymarket continues to have a “close, active relationship” with JPMorgan even after the bank severed the banking tie.
Ties Remain, IPO Looms
Despite ending day-to-day banking, JPMorgan has remained open to other business with Polymarket, including an underwriting role if the platform goes public, Finanzen.net reported.
“JPMorgan Chase reportedly cut banking ties with Polymarket in October 2025 over regulatory concerns but remains open to an underwriting role if the platform goes public”
Finanzen.net said JPMorgan is allegedly keen on a potential underwriting role should Polymarket attempt to go public, while also noting that Polymarket has not announced an official IPO plan or filed to go public.
CoinGape added that JPMorgan still maintains other business ties amid potential IPO plans, even as it terminated banking relations with Polymarket last year amid regulatory concerns.
CoinGape quoted JPMorgan CEO Jamie Dimon calling the prediction markets as “gambling.”
CoinGape also reported that Polymarket has been in early talks to raise $1 billion in a new funding round, which it said would double the valuation to nearly $20 billion.
