The British Financial Times quoted sources as saying that in October 2025 Chase Morgan had closed its cooperation with Polymarket, a forecast market platform, and asked the latter to find another bank partner for reasons related to regulatory concerns. Polymarket has since moved to another bank.
Bank cooperation ended last October.
Reports indicate that this adjustment does not imply a complete cut-off. Despite the termination of bank account cooperation, the two companies retained other transactions.
Among them, in February this year, Morgan Chase invited Polymarket CEO Shayne Coplan to a private banking conference. This indicates that the parties remain engaged at some operational levels.
The parties retain other operational links
The Financial Times also stated that Chase Morgan was known to have an interest in the future as a potential first-time public equity collector for Polymarket. If the information is true, it is clear that the Wall Street Bank has not completely withdrawn from its business cooperation with the platform.
Polymarket has received widespread attention in recent years as a result of its encrypted forecasting of market operations. Changes in banking relationships reflect the fact that traditional financial institutions continue to prioritize compliance and regulatory risks when they approach relevant platforms.
Polymarket advanced a new round of finance
In addition to potential IPO discussions, Polymarket is also promoting a new round of finance. The report mentions that the company is seeking financing for over $1 billion, with a corresponding valuation of $20 billion.
If this round of finance is completed, the capital strength and market interest of Polymucket may rise further. However, as currently disclosed, bank cooperative adjustment has not blocked its financing and capital market schemes.