JPMorgan debanked Polymarket in late 2025
According to Financial Times, JPMorgan ended its banking relationship with Polymarket in late 2025 over regulatory concerns.
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Summary
JPMorgan Chase stopped providing its banking services to the decentralized prediction market platform Polymarket late last year, according to the Financial Times.
In October 2025 the bank told Polymarket it would have to secure a different banking partner amid regulatory worries. Polymarket has already moved to another lender, though that firm’s name remains undisclosed, the FT report said.
Polymarket was barred from serving U.S. users in 2022 after the CFTC hit the platform with a $1.4 million settlement for running an unregistered derivatives trading venue. The company nonetheless returned to the U.S. market in late 2025 once the Trump administration loosened federal rules.
Even after cutting the formal banking link, JPMorgan has reportedly kept some connection. For instance, it invited Polymarket CEO Shayne Coplan to address a private client conference in February 2026 and is still angling for a role underwriting any future IPO.
CoinDesk reached out to Polymarket for a comment on the matter.
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