JPMorgan Chase ended its banking relationship with prediction-market platform Polymarket last year amid regulatory concerns, according to the Financial Times.

The bank reportedly notified Polymarket in October to find a new banking partner. Polymarket has since established a relationship with another lender, although its identity remains undisclosed.

JPMorgan still maintains ties with Polymarket across multiple entities and operational integrations and could remain a candidate to underwrite a potential IPO.

Polymarket said it continues to have a “close, active relationship” with JPMorgan, including in areas related to customer fund flows.