Pascal raises $9M Series A to take on Polymarket and Kalshi
What's the deal? Prediction market platform Pascal has raised $9 million in a Series A round led by Union Square Ventures. The New York-based startup is building a noncustodial prediction market exchange on Solana aimed at professional traders and institutional users, with valuation details undisclosed.
Why now? The round extends a $6 million seed raise closed in August 2025, backed by Wintermute VenturesDealroom has a profile for this one. Try Dealroom → and DBADealroom has a profile for this one. Try Dealroom →. Pascal launched its private beta in June 2026 as prediction markets draw growing investor attention.
What's the endgame? Pascal wants to build what it calls a next-generation prediction market platform, positioning itself against incumbents Kalshi and Polymarket by promising lower fees, higher liquidity and trading tools closer to perpetual futures.
The signal: By targeting professional and institutional users rather than retail bettors, Pascal is betting that prediction markets can mature into serious trading infrastructure — and that USV's backing can help it carve share from two entrenched leaders.
Read more: Cointime
Image credit: Generated with Gemini
