JPMorgan Cuts Bank Ties with Polymarket Due to Regulatory Issues
2026-08-17 17:56:03
According to CoinMeta, JPMorgan terminated its banking relationship with Polymarket in October 2025 due to regulatory concerns, posing new challenges to the forecasting market. Nevertheless, a spokesperson for Polymarket stated that the company still maintains an active relationship with JPMorgan, which involves the operational integration of multiple entities and the handling of customer funds. Recently, Polymarket has been in discussions regarding financing of approximately $1 billion, with a valuation exceeding $20 billion, and in April, it successfully raised $1 billion, raising its valuation to $15 billion. In June, the company's annual revenue also exceeded $1 billion. Meanwhile, on August 11, a spokesperson for the New York City Council, Julie Menin, launched an investigation into Polymarket regarding allegations of misleading marketing. Polymarket stated that it will communicate with the council and fight against the restrictions of state gambling laws, and in July, it achieved a victory in Minnesota where a federal judge temporarily halted the state's new ban on forecasting markets.
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Source:Coinpaper
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