Pascal Raises $9 Million in Series A Funding

Prediction market platform Pascal said it has completed a $9 million Series A funding round. According to Odaily, the company plans to build a prediction market platform for professional traders and institutional users. Union Square Ventures led the round, and the valuation was not disclosed. The financing follows a $6 million seed round last August, with early investors including Wintermute Ventures and DBA. Pascal is based in New York and positions itself as a prediction market platform similar to Kalshi. It said it aims to offer lower fees, higher liquidity, and more professional trading tools through a trading model closer to perpetual futures. Co-founder Ivo Crnkovic-Rubsamen said the company wants to build a highly liquid prediction market for real commercial risks, allowing businesses to use the markets for risk management and hedging.