According to The Wall Street Journal, JPMorgan Chase severed banking services with prediction market platform Polymarket in October last year, citing regulatory concerns. Despite the disruption in banking relations, other connections still exist between the two companies. A Polymarket spokesperson stated that both parties maintain a "close and active relationship" across multiple entities, and Polymarket CEO Shayne Coplan has served as a speaker at JPMorgan Chase events three times in the past year. In April of this year, JPMorgan Chase also offered its wealth management clients the opportunity to participate in Polymarket's Series E funding round, which valued Polymarket at $14.5 billion. Currently, JPMorgan Chase is facing scrutiny regarding "improperly closing customer accounts," and the U.S. Department of Justice has issued subpoenas to several banks, including JPMorgan Chase, concerning this matter. Prediction market platforms are generally under regulatory scrutiny, and the U.S. Commodity Futures Trading Commission (CFTC) is investigating Polymarket.