JPMorgan Debanked Polymarket Over Regulatory Concern, FT Says

JPMorgan severed its banking links with Polymarket last year due to US regulatory concerns regarding the prediction market industry. While the bank debanked the platform, reports suggest JPMorgan may still be interested in a role in a potential IPO. Simultaneously, the U.S. Department of Justice is currently probing several major banks, including JPMorgan, for the improper closing of customer accounts. This action occurred when the prediction market sector faced more instability than it does currently.