JPMorgan Ended Its Banking Relationship With Polymarket Last Year Over Regulatory Concerns

According to the Financial Times, JPMorgan ended its banking relationship with prediction market Polymarket in October 2025 over regulatory concerns and told the company to find a new banking partner. Polymarket has since moved to another bank.

The two companies continue to maintain other business ties. JPMorgan invited Polymarket CEO Shayne Coplan to a private banking client conference in February and is seeking a potential underwriting role if Polymarket pursues an IPO. Polymarket said it maintains a close, active relationship with JPMorgan across multiple entities, operational integrations and customer fund flows.

Polymarket is also seeking to raise more than $1 billion at a $20 billion valuation, more than double its roughly $8 billion valuation in 2025.