JPMorgan ended its banking relationship with Polymarket due to regulatory concerns.
Regulation & Gov ·
JPMorgan ended its banking relationship with Polymarket in October 2025 over regulatory concerns, according to reporting citing the Financial Times. The bank instructed the prediction market platform to secure banking services elsewhere, and Polymarket has since transitioned to another financial institution. Despite the severance of core banking ties, the two entities have maintained separate business connections; JPMorgan extended an invitation to Polymarket CEO Shayne Coplan to attend a private banking client conference in February and has signaled interest in underwriting a potential initial public offering should Polymarket pursue that path.
Polymarket characterizes its relationship with JPMorgan as active and multifaceted, spanning operational integrations and customer fund flows across multiple entities. The nature of the regulatory concerns that prompted the banking relationship termination has not been publicly detailed.
The platform is currently pursuing a funding round targeting more than $1 billion at a $20 billion valuation, roughly double its valuation two years prior. The specific timeline for this capital raise and whether it will materialize remain unclear.