According to the Financial Times, JPMorgan ended its banking relationship with prediction market Polymarket in October 2025 over regulatory concerns and told the company to find a new banking partner. Polymarket has since moved to another bank.

The two companies continue to maintain other business ties. JPMorgan invited Polymarket CEO Shayne Coplan to a private banking client conference in February and is seeking a potential underwriting role if Polymarket pursues an IPO. Polymarket said it maintains a close, active relationship with JPMorgan across multiple entities, operational integrations and customer fund flows.

Polymarket is also seeking to raise more than $1 billion at a $20 billion valuation, more than double its roughly $8 billion valuation in 2025.