JPMorgan Eyes Polymarket IPO Role After Ending Banking Services Over Regulatory Concerns

JPMorgan is pursuing potential IPO business from Polymarket even after regulatory concerns led the bank to stop providing banking services to the prediction-market company last year, according to the Financial Times.

Specifically, the Wall Street lender is seeking an underwriting role should Polymarket move ahead with a public offering and invited CEO Shayne Coplan to speak at a private-banking client conference in February. Polymarket, meanwhile, is looking to raise more than $1 billion at a $20 billion valuation, more than twice its roughly $8 billion valuation in a 2025 fundraising round.

The prospective capital-markets work follows JPMorgan’s October 2025 decision to end its banking relationship with Polymarket over regulatory concerns. Polymarket subsequently moved those banking services to another institution.

The change in banking provider did not sever the wider relationship between the companies. Polymarket said it continues to work closely with JPMorgan across multiple entities, including operational integrations and activities involving customer fund flows.

Source: Financial Times