JPMorgan Chase ended its banking relationship with prediction market platform Polymarket in October 2025 due to regulatory concerns, according to the Financial Times. Polymarket now works with an unidentified lender, though JPMorgan reportedly maintains other ties, including potential interest in underwriting Polymarket’s future public offering.
The move followed JPMorgan’s notification to Polymarket in October 2025 that it needed to find a new bank, as reported by the Financial Times. Polymarket has stated it “continues to have a ‘close, active relationship’ with JPMorgan,” though the extent of this relationship remains unspecified.
More than a dozen US states have taken legal action against Polymarket, Kalshi, or both over sports event contracts, according to the Story Pack. Authorities in multiple countries have also blocked or restricted access to Polymarket, reflecting broader regulatory scrutiny of the sector.
Cointelegraph attempted to contact JPMorgan and Polymarket for comment but received no response. The identity of Polymarket’s new lender remains unspecified, and JPMorgan’s alleged interest in underwriting a future public offering is unconfirmed.
The legal and regulatory challenges facing Polymarket highlight growing tensions between crypto-based platforms and traditional financial institutions, as jurisdictions worldwide seek to clarify the oversight of prediction markets and similar innovations.
Written by Steven Cook
Regulation Desk
