Jamie Dimon says JPMorgan Chase might get into prediction markets

JPMorgan $JPM Chase CEO Jamie Dimon said his bank is studying a potential entry into prediction markets, while making clear any participation would come with strict limits on what kinds of contracts it would offer.

In a sit-down with CBS Evening News, Dimon told anchor Tony Dokoupil that he could see JPMorgan eventually offering something similar — pointing to Kalshi and Polymarket as examples of the kinds of platforms he had in mind. Dimon offered no timeline and said the bank has not committed to anything, though he indicated JPMorgan has begun looking at the logistics of what such a product might involve.

Dimon was direct about how he views the space. "I think for the most part, it's more like gambling," he said. There were carve-outs, he said: someone with genuine expertise in a given area might legitimately approach a prediction market contract as an investment — wagering against a counterparty they believe is mispricing the outcome.

Any JPMorgan product would carry clear boundaries, he said. "We're not gonna be in sports. We're not gonna be in politics. There's a bunch of stuff we won't do." Dimon made clear that insider trading rules would apply just as strictly in this context as anywhere else. "You cannot use inside information at all for any reason, including prediction markets," Dimon told Business Insider.

On gambling broadly, Dimon said he holds few objections. "People have been gambling forever — every country I've ever been in, people gamble," he said. His concern is limited to cases where it becomes destructive. "I'm against it if it's an addiction that ruins your life type thing," he said. "I'm a little bit of a libertarian. You have the right to do what you want, the way you want."

The comments land as prediction markets face growing scrutiny. Platforms such as Kalshi and Polymarkethave expanded rapidly, driven by a marketing push and a light regulatory touch from the Trump administration. Total trading volume on Kalshi reached $24 billion last year, and the company hit an $11 billion valuation in December. Polymarket, which operates offshore and is underpinned by cryptocurrency, carries a $9 billion valuation.

The boom has drawn bipartisan concern in Congress. Democratic lawmakers have raised alarms over suspected insider trading on Polymarket ahead of U.S. strikes on Iran, with blockchain analytics firm Bubblemaps identifying six accounts that collectively made $1.2 million on bets placed hours before the attacks. Sen. Chris Murphy of Connecticut said he wants legislation to ban prediction market trades tied to government action. The Commodity Futures Trading Commission, which regulates the sector, has shrunk under the Trump administration and faces questions about its capacity to police the industry.

MarketWatch reported that the bank has not announced any concrete steps toward launching such a product.