JPMorgan ended Polymarket banking relationship in 2025
JPMorgan Chase ended its banking relationship with prediction market Polymarket in October 2025 over regulatory concerns and told the company to find another bank, the Financial Times reported on Aug. 14. Polymarket has since moved to an unidentified banking partner. The account closure did not end all business between the companies. Polymarket told the FT it maintains “a close, active relationship with JPMorgan across multiple entities, operational integrations and material handling of customer fund flows.” JPMorgan declined to comment. The companys description of the remaining relationship has not been independently detailed publicly. JPMorgan debanked Polymarket over regulatory concerns JPMorgan‘s exit came during Polymarket’s U.S. transition The timing matters because Polymarket was still rebuilding its U.S. regulatory position. The CFTC order in January 2022 required Blockratize, the company behind Polymarket, to pay a $1.4 million civil penalty and wind down markets that did not comply with federal derivatives law. By October 2025, the company had acquired QCX and QC Clearing and secured a CFTC staff letter granting narrow no action relief on certain reporting and recordkeeping requirements. The CFTC registry currently lists QCX LLC, doing business as Polymarket US, as a designated contract market. The Commission amended its designation in November to permit futures commission merchant intermediation. Polymarket