Weekly Bank Update JP MORGAN QUIETLY DROPPED POLYMARKET AS A BANKING CLIENT $JPM ended its banking relationship with prediction market platform Polymarket last October over regulatory concerns, according to the Wall Street Journal, even though the bank later offered wealth clients a chance to join Polymarket's $14.5 billion Series E round. The timing is awkward: $JPM was subpoenaed by the Justice Department last month over alleged politically motivated debanking, and Donald Trump Jr. holds a stake in Polymarket through his investment fund. Meanwhile the CFTC, state attorneys general, and now the New York City Council are all circling prediction markets, even as Polymarket explores a new raise at a valuation above $20 billion. GOLDMAN IS BUYING ITS WAY INTO THE HOTTEST CORNER OF THE ETF MARKET $GS has agreed to acquire NEOS Investments, a fast growing manager that runs $30 billion across 19 ETFs using options strategies to generate monthly income, for up to $2.25 billion in cash and equity. The deal, expected to close in the first quarter of 2027, would lift $GS to $80 billion in active ETFs and make it the eighth largest active ETF provider, on a global ETF platform of roughly $130 billion. It lands as derivative income funds boom into a $180 billion category that has grown more than 70% annually since 2021, and both NEOS co founders will join $GS as partners. CITI IS BUYING THE TECH BEHIND SMARTER CREDIT CARD REWARDS $C has agreed to acquire Kard Financial, a commerce media and rewards platform that uses verified transaction data and machine learning to match cardholders with merchant funded offers. The deal would extend Kard's personalization engine to roughly 70 million $C cardmembers while giving brands a new channel to reach high intent shoppers. Terms were not disclosed and $C said the price is not material to its results, with closing subject to customary conditions.