Prediction market platform Pascal completes $9 million Series A funding round led by USV

Odaily reported that prediction market platform Pascal has announced the completion of a $9 million Series A funding round, aiming to build a next-generation prediction market platform for professional traders and institutional users, challenging the current market landscape dominated by Kalshi and Polymarket.

This funding round was led by Union Square Ventures (USV), with the specific valuation undisclosed. The financing builds on a $6 million seed round from August of last year, with early investors including Wintermute Ventures and DBA.

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

Pascal co-founder Ivo Crnkovic-Rubsamen stated that he hopes to establish highly liquid prediction markets for real-world business risks in the future, enabling companies to use these markets for risk management and hedging. (Fortune)