JPMorgan Debanked Polymarket Last Year. Now It's Keeping the Door Open for an IPO.
6 Articles
6 Articles
JPMorgan Debanked Polymarket Last Year. Now It's Keeping the Door Open for an IPO.
JPMorgan informed Polymarket in October that it would need to find another bank, and the prediction market platform has since moved its banking business to another lender, whose identity was not disclosed.
JPMorgan Ended Polymarket Banking Services in 2025 Due to Regulatory Concerns
The US-based megabank JPMorgan Chase reportedly worried that prediction market regulations would lead it to debank Polymarket in October.Unnamed sources “familiar with the matter” told the Wall Street Journal late last week that the concerns led the bank to end its “banking relationship” with Polymarket.Reuters also confirmed the report, quoting more anonymous individuals.Continue reading...
What to remember: JPMorgan ended its banking relationship with Polymarket in October, for regulatory reasons. Nevertheless, the bank invited the platform's leader to speak to its wealthy customers in February. Polymarket is seeking to raise more than $1 billion on a 20 billion valuation. JPMorgan Chase ended its banking relationship with Polymarket in October, citing regulatory concerns, after people who were aware of the file cited by the Finan…
JPMorgan debanked Polymarket last year over regulatory concerns, source says
By Nupur Anand and Manya Saini NEW YORK, Aug 14 (Reuters) – JPMorgan Chase terminated its banking relationship with prediction market platform Polymarket in October of last year, citing regulatory concerns, a person familiar with the matter said on Friday. The source spoke on the condition of anonymity to discuss confidential information. The news was previously reported by the Financial Times. Prediction markets, which allow people to wager on …
Even after terminating banking relationships, some ties were maintained. According to the British newspaper "Finnish," U.S. financial giant JPMorgan Chase terminated its banking relationship with prediction market platform Polymarket in 2025.
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