JPMorgan Chase Ends Banking Services for Polymarket in October 2025 Over Regulatory Uncertainty
TL;DR — JPMorgan Chase ended banking services for Polymarket in October 2025 over regulatory uncertainty. The parties remain in close contact, with the bank seeking an IPO underwriting role as Polymarket targets a $20B valuation and $1.2B annualized revenue. The platform and Kalshi have flagged over 140 insider trading cases this year.
SCCG Take — The split between service termination and IPO interest shows banks balancing caution with opportunity in prediction markets. Operators must secure alternative rails while regulatory clarity develops.
JPMorgan Chase ceased providing banking services for Polymarket in October 2025. Sources cited the bank’s reluctance to continue amid growing regulatory uncertainty for the federally licensed event exchange.
The Financial Times reported the termination while noting that the parties remain in close contact. JPMorgan Chase is seeking the underwriting role for the company’s IPO. Polymarket is exploring a new financing round that could value it at $20 billion.
The platform’s annualized revenue has tripled to $1.2 billion. In an email statement to Reuters, Polymarket addressed the relationship directly: “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.”
Polymarket continues efforts to identify insider trading. Together with rival Kalshi, the exchanges have flagged more than 140 potential cases since the beginning of the year.
Ongoing Contact Despite Banking Service Changes
The end of banking services has not eliminated all ties between JPMorgan Chase and Polymarket. The bank’s pursuit of an IPO underwriting mandate points to continued commercial engagement even as regulatory questions linger. The statement to Reuters reinforces operational integrations and customer fund handling as active elements of the relationship.
Revenue Growth and Compliance Actions
Polymarket‘s trajectory shows resilience. A potential $20 billion valuation in new financing and revenue reaching $1.2 billion annualized reflect expanding scale. The joint flagging of more than 140 insider trading cases with Kalshi demonstrates concrete steps to address integrity concerns that often fuel regulatory hesitation.
Reporting: GamblingNews
Generated by SCCG’s automated editorial system from published source reporting. SCCG Management holds editorial responsibility.
Banks want prediction market upside without the compliance downside — Polymarket must build redundant financial rails now.
This is the cost of scaling without regulatory clarity. We're seeing operators in every emerging vertical hit the same wall: explosive growth, institutional interest, but banks won't touch the day-to-day until Washington draws the lines. Polymarket's $20B valuation talk while scrambling for banking partners is the story of 2025.
- JPMorgan ended banking services in October but pursues IPO underwriting role
- Polymarket revenue hit $1.2B annualized; new round targets $20B valuation
- Platform and Kalshi flagged 140+ insider trading cases this year
SCCG angle: SCCG connects emerging platforms to financial services partners who understand regulated risk — payment processors, compliant banking alternatives, and institutional investors who've navigated gray zones before. We've built relationships across fintech and gaming payments in 30+ markets; we know who moves fast when traditional banks won't.
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