JPMorgan Chase (NYSE:JPM) reportedly ended its banking relationship with Polymarket in late 2025 over regulatory concerns, highlighting the challenges prediction-market companies face as the industry rapidly expands in the U.S.
Polymarket was asked by JPMorgan in October to seek a new banking partner amid regulatory concerns.
The prediction market platform has since secured a new lender, whose identity has not been disclosed, according to a report by the Financial Times.
Despite ending its banking relationship with Polymarket, JPMorgan remains connected to the company, having invited CEO Shayne Coplan to speak at a private banking conference in February and eyeing an underwriting role if Polymarket goes public, the report stated.
Polymarket told the publication that it maintained a close, active relationship with JPMorgan, including across multiple entities, operational integrations and customer fund flows, adding, "Any suggestion otherwise fundamentally mischaracterises our relationship." JPMorgan and Polymarket did not immediately respond to Benzinga's request for comments.
