JPMorgan Chase has terminated its banking relationship with Polymarket due to regulatory concerns, according to the Financial Times.
In October 2025, JPMorgan notified the prediction markets platform that it needed to find a new bank, the Financial Times reported on Friday, citing sources familiar with the matter. Polymarket is now working with another unnamed lender.
However, JPMorgan has maintained other business relationships with Polymarket. The bank is reportedly interested in a potential underwriting role if Polymarket decides to go public. According to the report, Polymarket stated that it continues to maintain "close, active relationships" with JPMorgan.
Cointelegraph has reached out to JPMorgan and Polymarket for comment.
Prediction markets are facing increasing regulatory scrutiny in the US and abroad. More than a dozen U.S. states have taken legal action against Polymarket, Kalshi, or both platforms over sports event contracts, and authorities in several countries have also blocked or restricted access to Polymarket.
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