FT: JPMorgan Ended Polymarket Banking Ties Over Regulatory Concerns

JPMorgan Chase ended its banking relationship with Polymarket due to regulatory concerns. According to reports, JPMorgan stopped providing banking services to Polymarket late in 2024, citing regulatory issues. Polymarket halted U.S. services after a $1.4 million settlement with the CFTC for operating an unregistered derivatives exchange in 2022. The platform later resumed U.S. operations as regulations eased. Despite the formal end of the banking relationship, JPMorgan invited Polymarket’s CEO Shayne Coplan to speak at a private client conference in February. The bank also expressed interest in underwriting a potential IPO for Polymarket.