JPMorgan Cuts Polymarket Banking Ties as Regulatory Risks Persist

Polymarket, a prediction market, had its banking relationship with JPMorgan Chase severed, illustrating regulatory scrutiny’s impact on customary banks’ relationships with cryptocurrency businesses.

According to an October 2025 report from the Financial Times, JPMorgan told Polymarket that it would have to find a different bank, at which point Polymarket moved accounts to a different bank, which was not identified.

Neither JPMorgan nor Polymarket has said what raised concerns. The move comes amid a growing regulatory environment for prediction markets in the United States, having previously been hit with enforcement action from the Commodity Futures Trading Commission in 2022.

JPMorgan Ended Its Banking Relationship With Polymarket Last Year Over Regulatory ConcernsAccording 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… pic.twitter.com/KDES8JxzGs— Wu Blockchain (@WuBlockchain) August 14, 2026 As part of the settlement, the company agreed to pay a $1.4 million civil penalty for easing the trading of event-based binary options contracts off-exchange without being registered, and to wind down any markets that do not comply with U.S.