JPMorgan Chase Makes Statement: Will Strive to Lead IPO if Polymarket Goes Public

BlockBeats News, August 17th, JPMorgan Chase notified Polymarket of the need to terminate their partnership by October 2025 due to regulatory concerns. Polymarket has since transferred its banking operations to another undisclosed lending institution. However, the communication between the two parties has not been completely severed. JPMorgan Chase has stated that if Polymarket pursues an IPO in the future, they are also interested in competing for the underwriting role. A source familiar with the matter said, "They don't want to burn all bridges." Polymarket, on the other hand, objected to the claim that the two parties had largely severed ties, emphasizing that they have maintained a close and active relationship with JPMorgan Chase in substantial dealings across multiple entities, operational integrations, and customer fund flows.

The prediction market is experiencing explosive growth, with the nominal trading volume in the prediction market surpassing $250 billion in 2026. However, this growth has also attracted more regulatory scrutiny. Over 12 U.S. states have filed lawsuits against Polymarket and Kalshi, alleging that they constitute illegal sports betting. Recently, the CFTC invoked emergency powers to order Kalshi to continue operating in New York, fueling a continued federal-state jurisdiction dispute. Meanwhile, the U.S. government is investigating several large banks for "debanking." Former President Trump himself has sued JPMorgan Chase and CEO Dimon, accusing them of closing his accounts for political reasons. JPMorgan Chase has shown a dual stance between banking relationships and potential business opportunities, as traditional financial institutions remain cautious when the compliance boundaries in the prediction market are still unclear.