JPMorgan Chase, the largest bank in the United States, ended its banking relationship with prediction-market platform Polymarket in October 2025 over regulatory concerns, the Financial Times reported. The bank instructed Polymarket to find another lender, and the platform has since done so. Access to banking services has been a recurring challenge for crypto businesses, which depend on regulated lenders for dollar deposits and payments, so decisions by major banks carry operational weight for such platforms.

Polymarket's regulatory record includes a $1.4 million fine imposed by the U.S. Commodity Futures Trading Commission (CFTC) in 2022 for operating an unregistered derivatives platform. The platform later returned to the U.S. market as regulatory conditions eased. That return followed a period in which prediction markets, including Polymarket, drew a surge of public attention and trading activity around the 2024 U.S. election.

Although the banking relationship has ended, JPMorgan continues to maintain other ties with Polymarket, including operational relationships and potential capital-markets business, according to the report.

Polymarket has also faced enforcement measures in other jurisdictions. France is the latest country to restrict access to the platform, with its gambling regulator labeling Polymarket illegal and ordering internet service providers to block access within the country (France Gambling Regulator Labels Polymarket Illegal, Orders Internet Service Providers to Block Access). The French action highlights a divergence in how such platforms are treated: in the United States, event contracts are generally regulated as derivatives under the CFTC, while regulators in some other countries classify them under gambling law.

Separately, about two months ago, the CFTC expanded its investigation into Polymarket to examine allegations of staged trades and fabricated winning bets, widening regulatory scrutiny beyond previously reported concerns over undisclosed influencer marketing (CFTC Expands Polymarket Probe as Scrutiny Shifts from Advertising to Market Integrity). The report leaves open how that inquiry and the French blocking order will be resolved, leaving regulatory outcomes as the main open questions for the platform.