The New York-based startup raised $9M in a Series A led by Union Square Ventures to build a more “pro-grade” prediction market platform, adding to a $6 million seed round from Wintermute Ventures and DBA raised last August.

Founded by Ivo Crnkovic-Rubsamen (former dYdX CEO) and Matthew Downey, Pascal positions itself as a more refined, perpetual futures-style alternative to Kalshi and Polymarket — built for serious traders and institutions rather than casual bettors.

The startup launched in June and remains in private beta, focusing on lower fees, faster execution, eliminating "phantom fills," and better liquidity incentives for professional market makers.