Svmuu News: Prediction market platform Pascal announced the completion of a $9 million Series A funding round. The company plans to build a next-generation prediction market platform for professional traders and institutional users, challenging the current market landscape dominated by Kalshi and Polymarket.
The round was led by Union Square Ventures (USV), though the specific valuation was not disclosed. This funding follows a $6 million seed round raised last August, 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 specialized trading tools through a trading model that more closely resembles perpetual futures.
Pascal co-founder Ivo Crnkovic-Rubsamen said he hopes to eventually establish highly liquid prediction markets for real-world business risks, enabling companies to use these markets for risk management and hedging. (Fortune)