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

Odaily Planet Daily News: Prediction market platform Pascal announced the completion of a $9 million Series A funding round, planning 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. This round follows a $6 million seed round from August last year, with early investors including Wintermute Ventures and DBA.

Headquartered in New York, Pascal is positioned 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 the hope is to establish highly liquid prediction markets for real-world business risks in the future, allowing companies to use these markets for risk management and hedging. (Fortune)