Prediction market platform Pascal completes $9 million Series A funding, 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 financing is a further expansion based on a $6 million seed round in 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 provide users with lower fees, higher liquidity, and more specialized trading tools through a trading model that is closer to perpetual futures.

Pascal co-founder Ivo Crnkovic-Rubsamen stated that the goal is to establish highly liquid prediction markets for real business risks in the future, allowing companies to utilize these markets for risk management and hedging. (Fortune)