Exclusive: Prediction market startup Pascal raises $9 million to challenge heavyweights Kalshi and Polymarket

Prediction market startup Pascal announced on Thursday a $9 million Series A funding round led by Union Square Ventures to challenge heavyweights Kalshi and Polymarket. The New York-based company said it aims to offer a more refined version of prediction markets with competitively low fees and advanced tools for serious traders and institutions. Pascal cofounder Ivo Crnkovic-Rubsamen said he would love to see a world where there are liquid markets for the types of risks that real businesses face and are interested in hedging. The Series A builds on a seed round Pascal held last August, which raised $6 million from Wintermute Ventures and DBA. Pascal launched in June and remains in private beta, with the company declining to disclose current trading volumes.