JPMorgan Chase Stopped Providing Banking Services for Polymarket in October
JPMorgan Chase ceased providing banking services for Polymarket, a federally licensed event exchange, in October 2025 , a new media report has highlighted,with sources citing the bank’s reluctance to continue. . .
JPMorgan Chaseceased providing banking services for Polymarket, a federally licensed event exchange, inOctober 2025, a new media report has highlighted,with sources citing the bank’s reluctance to continue working with the companyover growing regulatory uncertainty. JPMorgan Chase Remains in Close Contact with PolymarketThe Financial Times highlighted the development, also noting that despite the ending of banking services,PolymarketandJPMorganare still “in close contact”. While JPMorgan Chase is not currently providing banking services, the media reported that it is seeking the underwriting role for the company’s IPO. The exchange is potentially looking into a new financial round that could push itsvaluation to $20 billion, with the company’s annualized revenue alreadytripling to $1. 2 billion as per Bloomberg sources. Polymarket has confirmed thatthe exchange and the investment bankwere indeed in close contact in an email statement forReuters, another media outlet:“We maintain a close, active relationship with JPMorgan across multiple entities, operational integrations, and material handling of customer fund flows. The strength of our relationship is highlighted by our CEO speaking at three of their flagship events in the past year alone. Any suggestion otherwise fundamentally mischaracterizes our relationship. ”In the meantime, Polymarket remains engaged inhelping to flag and root out insider trading, with the platform andrival exchange Kalshiflagging more than 140 potential cases since the beginning of the year.