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JPMorgan Debanked Polymarket Over US Regulatory Concerns

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JPMorgan severed its links with Polymarket last year, citing regulatory concerns as the prediction market industry stood on shakier ground than it does today. The U.S. Department of Justice is currently probing major banks, including JPMorgan, for improperly closing customer accounts.


Key Takeaways

  • JPMorgan cut banking ties with Polymarket in October due to regulatory concerns over unregistered trading.
  • Despite the debanking, Polymarket retains operational links with JPMorgan, which may underwrite its IPO.
  • The DOJ is now investigating JPMorgan and eight other banks for politically motivated debanking practices.

JPMorgan Allegedly Debanked Polymarket Over Regulatory Concerns

JPMorgan, one of the largest investment banks, was involved in the financial services denial epidemic, known as “debanking,” that affected several cryptocurrency-focused companies and individuals.

According to reports from the Financial Times, JPMorgan would have severed its banking relationship with the prediction market platform in October, citing regulatory concerns.


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