JPMorgan Chase has terminated its banking relationship with Polymarket due to regulatory concerns.

BlockBeats News, August 15th, according to The Wall Street Journal, sources familiar with the matter said that JPMorgan Chase terminated its banking relationship with the prediction market Polymarket in October last year due to regulatory concerns. However, JPMorgan Chase currently maintains partial cooperation with Polymarket and other prediction market companies.

A spokesperson for Polymarket stated that the company currently maintains "close and active relationships" with JPMorgan Chase through multiple entities. Over the past year, Polymarket CEO Shayne Coplan has also attended JPMorgan Chase events three times. Earlier this year, a major investor in Polymarket also helped it connect with large banks such as Citigroup and Fifth Third.

Currently, prediction markets are facing increased scrutiny from U.S. state and federal regulatory agencies. The Commodity Futures Trading Commission is investigating Polymarket, and the New York City Council is also investigating its marketing practices; meanwhile, several states are still litigating whether prediction markets should be regulated as gambling.

JPMorgan Chase has previously attracted attention from the Trump administration over the issue of "debanking." Trump has requested regulatory agencies to investigate whether banks are engaged in "politicized or illegal debanking" practices, and JPMorgan Chase was also subpoenaed by the U.S. Department of Justice last month as a result.