JPMorgan Cuts Polymarket Banking Ties Over Regulatory Concerns

Polymarket is a crypto-based prediction market where users trade contracts tied to outcomes in politics, economics and current affairs. Such platforms sit at the intersection of digital assets, gambling rules and financial regulation, making access to conventional banking a persistent challenge. JPMorgan’s decision underscores how major banks continue to prioritize compliance and reputational risk even as institutional interest in crypto-related businesses grows.

JPMorgan closed Polymarket’s bank accounts and ended the relationship in October because of regulatory concerns, the Financial Times reported. The bank nevertheless remains interested in securing a role in a potential Polymarket initial public offering, highlighting a split between its risk appetite in commercial banking and its pursuit of investment-banking fees. No potential IPO date or fundraising target was disclosed in the cited reports.