Woofun AI reports that prediction market platform Pascal has closed a $9 million Series A funding round led by Union Square Ventures. The capital injection builds upon a $6 million seed round completed in August of the previous year, which included participation from Wintermute Ventures and DBA.

Headquartered in New York, Pascal intends to compete with Kalshi and Polymarket by providing professional traders with lower fees, enhanced liquidity, and specialized tools modeled after perpetual futures. Co-founder Ivo Crnkovic-Rubsamen stated the goal is to create highly liquid markets for real business risks, enabling corporate risk management and hedging.