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JPMorgan shuttered its banking relationship with predictions platform Polymarket: FT

JPMorgan Chase stopped providing its banking services to the decentralized prediction market platform Polymarket late last year, according to the Financial Times.

Omkar Godbole

Publisher CoinDesk

Aug 14, 2026 at 5:04 AM UTC · 1 dk okuma

JPMorgan shuttered its banking relationship with predictions platform Polymarket: FT
Image via CoinDesk

Key Signal

October 2025 Banking exit notice

Last Updated

2 ay önce

Çevriliyor…

JPMorgan Chase stopped providing its banking services to the decentralized prediction market platform Polymarket late last year, according to the Financial Times.

In October 2025 the bank told Polymarket it would have to secure a different banking partner amid regulatory worries. Polymarket has already moved to another lender, though that firm’s name remains undisclosed, the FT report said.

Polymarket was barred from serving U.S. users in 2022 after the CFTC hit the platform with a $1.4 million settlement for running an unregistered derivatives trading venue. The company nonetheless returned to the U.S. market in late 2025 once the Trump administration loosened federal rules.

Even after cutting the formal banking link, JPMorgan has reportedly kept some connection. For instance, it invited Polymarket CEO Shayne Coplan to address a private client conference in February 2026 and is still angling for a role underwriting any future IPO.

CoinDesk reached out to Polymarket for a comment on the matter.

Why this matters

JPMorgan’s withdrawal signals that major banks may remain cautious about servicing prediction-market operators even as U.S. federal policy becomes more permissive. Banking access is operationally important for platforms handling fiat payments and settlement, so continued regulatory uncertainty could constrain expansion or raise compliance costs.

#government-policy#markets

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Originally reported by CoinDesk

NewsLayer coverage based on externally reported material.

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