Dispatch
JPMorgan quietly cut Polymarket off in October 2025 — while still eyeing the IPO underwriting role
The Financial Times reported (2026-08-14, corroborated by Bloomberg and CoinDesk) that JPMorgan Chase told Polymarket in October 2025 to find a different banking partner over regulatory concerns. Polymarket, barred from US users in 2022 after a $1.4M CFTC settlement and back in the US market in late 2025, has since found an unnamed new lender. The split is narrower than it sounds: JPMorgan invited CEO Shayne Coplan to a private banking conference in February and is angling for an underwriting role in a potential IPO, and Polymarket says operational integrations and customer fund flows continue.
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