- JPMorgan has ended banking services for Polymarket.
- The decision came amid growing global regulatory pressure on prediction markets.
- However, it was not about a complete break in cooperation.
JPMorgan Chase ended its direct banking relationship with the prediction platform Polymarket in October 2025 over regulatory concerns, although certain commercial ties between the companies remained in place. The Wall Street Journal reported this, citing sources familiar with the matter.
The bank’s decision became known amid heightened scrutiny from U.S. regulators of prediction markets, which operate at the intersection of financial derivatives, cryptocurrencies, and gambling.
At the same time, Polymarket says it continues to maintain “close, active relationships” with JPMorgan through various entities.
Polymarket CEO Shayne Coplan also spoke at the bank’s events three times over the past year.
According to the report, in April JPMorgan even invited clients of its wealth management division to take part in Polymarket’s Series E round, which valued the company at $14.5 billion.
As a result, the bank effectively stepped back from direct banking engagement with the platform, while keeping the door open to other forms of cooperation. In particular, JPMorgan may be interested in a potential role in Polymarket’s future IPO.
As the WSJ writes, Polymarket has largely operated as an offshore crypto platform, with access for U.S. traders restricted for a long time. In December 2025, the company launched a regulated app for U.S. users.
Polymarket Under Regulatory Pressure
The situation around JPMorgan is unfolding amid a broader debate in the U.S. about so-called debanking — the termination of banking services for companies or customers.
JPMorgan is already under scrutiny from Donald Trump’s administration over allegations of improperly restricting access to banking services. Trump himself previously said the bank closed his accounts, and in early 2026 he filed a $5 billion lawsuit against JPMorgan and its CEO Jamie Dimon over the closure of his family business’s accounts.
At the same time, banks deny that they make decisions about customers for political or religious reasons. They say the restrictions stem from anti-money laundering requirements, detecting criminal activity, and other regulatory obligations.
A separate regulatory risk for Polymarket is tied to the very format of prediction markets. The platform and its competitors are facing lawsuits in more than a dozen U.S. states over whether such services should be classified as gambling.
In particular, the U.S. Commodity Futures Trading Commission is also continuing its investigation into Polymarket.
For Polymarket, regulatory issues are not limited to the U.S. market. In 2026, the platform has already been blocked or restricted in a number of countries.
In Ukraine, NCECmade a decision to restrict access to Polymarket because the platform was operating without a gambling license. In Portugal, SRIJ also ordered the service to be blocked, in part due to bets on political events.
Similar decisions were made by regulators in Argentina and Indonesia. In the latter, Polymarket was described as an “online casino disguised as prediction markets.” In May this year, Spain blocked Polymarket for operating without the required licenses, and in July France ordered internet service providers to restrict access to Polymarket.
Disclaimer:This material is for informational purposes only and is not an advertisement for gambling or a call to participate in it. Any mention of Polymarket is made solely within the context of a digital asset market overview and is not intended to popularize or promote the platform.
Сообщение JPMorgan Ended Banking Ties with Polymarket — WSJ появились сначала на INCRYPTED.