JPMorgan Chase Stopped Providing Banking Services for Polymarket in October 2025

JPMorgan Chase stopped providing banking services for Polymarket in October 2025, according to a new media report that pointed to growing regulatory uncertainty around the federally licensed event exchange. For high-risk operators, the useful part is not the headline drama; it is that a major bank can end banking support while still staying close enough to pursue other roles.

1. The Financial Times reported that JPMorgan Chase ceased providing banking services for Polymarket in October 2025. The report said the bank was reluctant to continue working with the company because of regulatory uncertainty.
2. Despite that, the two remain “in close contact,” according to the same report. JPMorgan Chase is also said to be seeking the underwriting role for Polymarket’s IPO, which is a different line of business from day-to-day banking but still shows the bank is not treating the relationship as fully over.
3. Polymarket is reportedly considering a new funding round that could push its valuation to $20 billion. Bloomberg sources said the company’s annualized revenue has already tripled to $1.2 billion.
4. Polymarket confirmed to Reuters that it and JPMorgan are in a “close, active relationship” across multiple entities, operational integrations, and material handling of customer fund flows. The company also said its CEO has spoken at three of JPMorgan’s flagship events in the past year alone.
5. The exchange is also still dealing with insider-trading monitoring. Polymarket and rival exchange Kalshi have flagged more than 140 potential cases since the beginning of the year.