JPMorgan Chase ends its direct banking relationship with Polymarket, according to multiple reports citing the Financial Times. The bank tells Polymarket it needs to find a new banking partner, and the change is said to have taken place in October 2025.
After the termination, Polymarket reportedly moves its accounts to another, unidentified lender. Several outlets add that JPMorgan may still maintain other ties with the prediction market platform, including an interest in potentially underwriting work if Polymarket pursues an initial public offering. Polymarket disputes any severing of the relationship, saying it continues to have a “close, active relationship” with JPMorgan.
The reports place the decision in the context of broader regulatory scrutiny facing prediction markets. Outlets note that Polymarket and similar platforms face legal and regulatory challenges in the United States and restrictions in other countries, which may increase compliance and risk concerns for banks. Specific details of what JPMorgan’s compliance review found are not provided in the cited coverage, and neither the new lender nor the scope of remaining ties is fully described.
