JPMorgan ended its banking relationship with decentralized prediction market Polymarket in late 2025 over regulatory concerns, according to a CoinDesk report citing the Financial Times.
What the Report Says About JPMorgan and Polymarket
The Financial Times reported that JPMorgan told Polymarket in October 2025 that the platform would need to secure a different banking partner. Polymarket has already moved to another lender, although that firm’s name was not disclosed. This development follows a period of expanding U.S. prediction market activity, even as CFTC Warns Prediction Markets Over Faulty Incentive Filings.
The CFTC History Behind Polymarket’s Banking Shift
Polymarket was barred from serving U.S. users in 2022 after the CFTC imposed a $1.4 million settlement for operating an unregistered derivatives trading venue. It returned to the U.S. market in late 2025 following federal rule changes, but the prediction market sector still faces enforcement scrutiny. The regulatory backdrop has not stopped other venues from pressing forward, as shown by the CFTC Orders Kalshi to Continue Offering Prediction Markets in New York Despite State Lawsuit.
What to Watch After the Debanking Disclosure
Even after ending the formal banking link, JPMorgan has reportedly kept some connection to the platform, including inviting Polymarket CEO Shayne Coplan to address a private client conference. That mixed signal may shape how market participants assess debanking risk for prediction platforms and other crypto-adjacent businesses. The episode adds another layer to the broader regulatory clash over market venues, including the Inside the Legal Clash: CME vs CFTC Over Onchain Crypto Perpetual Futures.
