Pascal raises $9 million Series A to build trader-focused prediction markets

Pascal, a New York-based prediction market startup, has raised a $9 million Series A led by Union Square Ventures as it pushes to build a venue aimed at professional traders and institutions rather than retail event speculators. The company launched its private beta in June 2026 and says its platform is designed to make prediction markets function more like established trading venues. Pascal is pitching perpetual futures-style markets instead of standard binary event contracts, alongside advanced order types, better execution quality, tools intended to reduce phantom fills and competitively low fees, although it has not disclosed specific pricing. The startup is entering an increasingly crowded market dominated by larger incumbents with different models. Polymarket is described as having an approximate $15 billion valuation and operates on Polygon using USDC with a broader crypto-native approach, while Kalshi is described as reaching roughly $22 billion and runs as a CFTC-regulated, USD-denominated platform that may appeal more directly to U.S. institutional participants. Pascal Research, a linked entity focused on blockchain financial tools, previously raised $4 million in August 2025, funding that appears to have supported the research and development behind the platform now in beta.