JPMorgan Chase reportedly cut ties with Polymarket’s banking operations in late 2025, with regulatory concerns prompting the decision, according to the Financial Times.

In October 2025, JPMorgan informed the prediction market that it would need to transition its banking business to another institution. Polymarket later found a replacement lender, although the name of the new banking partner has not been revealed.

The move followed years of regulatory scrutiny surrounding Polymarket’s U.S. operations. In 2022, the Commodity Futures Trading Commission ordered the platform to pay $1.4 million for operating an unregistered derivatives trading facility and barred it from serving U.S. customers. Polymarket eventually resumed U.S. operations in late 2025 after federal policy changes under the Trump administration eased restrictions.

JPMorgan’s banking decision does not appear to have ended all business connections between the two companies. Polymarket CEO Shayne Coplan was invited to speak at a JPMorgan private client conference in February 2026, while the bank has also reportedly sought a role in underwriting a potential Polymarket IPO.

CoinDesk contacted Polymarket for comment on the reported banking relationship.