JPMorgan Chase debanks Polymarket over regulatory concerns: FT report

Big banks are like homes for your money.

A big bank called JPMorgan Chase used to be the bank for a company called Polymarket, which runs a website where people can make predictions about future events.

A newspaper called the Financial Times says JPMorgan told Polymarket last October to find a different bank.

The newspaper says this happened because the bank was worried about rules and regulations.

Now Polymarket has a new bank, but we don't know which one.

JPMorgan still works with Polymarket in other ways, so it may help the company in the future if it wants to sell shares to the public.

Polymarket says the story isn't true and that it still has a close, active relationship with JPMorgan.

JPMorgan chose not to comment.

So the two sides are telling different stories about what happened.

It's a little like a disagreement between two friends over whether they are still friends.