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

New York-based startup Pascal has raised $9 million in a Series A funding round led by Union Square Ventures. The company aims to challenge industry heavyweights Kalshi and Polymarket by introducing institutional-grade prediction markets. This strategic entry is expected to intensify competition within the sector, potentially driving further innovation and reducing costs for institutional traders. Pascal intends to leverage this capital to establish a strong presence against existing market leaders in the prediction market space.