Prediction market platform Pascal raises $9 million in Series A funding led by USV

Odaily reports that prediction market platform Pascal has completed a $9 million Series A funding round, with plans to build a next-generation prediction market platform targeting professional traders and institutional users, aiming to challenge the current market landscape dominated by Kalshi and Polymarket.

This round was led by Union Square Ventures (USV), with the exact valuation undisclosed. The financing is a further expansion following the $6 million seed round in August last year, with early investors including Wintermute Ventures and DBA.

Pascal, headquartered in New York, positions itself as a prediction market platform similar to Kalshi, but hopes to offer users lower fees, higher liquidity, and more professional trading tools through a trading model closer to perpetual futures contracts.

Pascal co-founder Ivo Crnkovic-Rubsamen stated that in the future they hope to establish high-liquidity prediction markets addressing real business risks, enabling companies to use these markets for risk management and hedging. (Fortune)