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About pascal
Pascal is a prediction market platform built for professional traders, offering event contracts on real-world outcomes like politics, economics, and sports. Unlike traditional binary options, Pascal uses a perpetual-style order book where users can go long or short at any time, with prices continuously adjusting between $0 and $1.
Its core strength lies in its trading infrastructure: a 50ms matching engine, REST and WebSocket APIs, and support for high-frequency strategies. This appeals to quantitative traders who need low latency and precise execution, rather than casual bettors.
The main problem Pascal solves is the lack of liquidity and professional-grade tools in existing prediction markets. Many platforms are retail-focused, with wide spreads and limited order types. Pascal addresses this by offering maker rebates, tight spreads, and a fully collateralized model where users post USDC as margin.
Over the past six months, Pascal has expanded its market coverage beyond politics into areas like commodity prices and macroeconomic indicators. The platform has also improved its API documentation and launched a referral program. While still in private beta, trading volumes have grown steadily, and the team has focused on reliability and uptime rather than aggressive marketing.
Pascal was founded in New York by Ivo Crnkovic-Rubsamen and Matthew Downey. In August 2025, it closed a $6 million seed round led by Wintermute Ventures and DBA. The platform launched in June 2026 in private beta, targeting professional traders with perpetual-style event contracts on Solana. In July 2026, it raised a $9 million Series A led by Union Square Ventures, bringing total funding to $15 million and marking recognition from mainstream VCs.
Over the past six months, Pascal has made notable strides. In July 2026, the company announced a $9 million Series A round led by Union Square Ventures, following a $6 million seed round in August 2025. The platform, which launched in June 2026 in private beta, has already processed over 2 million contracts, all organic volume with fees and no incentives. Pascal positions itself as a professional-grade prediction market on Solana, targeting institutional and sophisticated retail traders. Key differentiators include an off-chain matching engine with on-chain settlement, a dedicated OTC desk for large or hard-to-fill trades, and a high-performance API. Looking ahead, Pascal's roadmap focuses on deepening liquidity, expanding its OTC desk capabilities, and building tools tailored for professional traders, with the goal of becoming the go-to venue for event-driven trading.
Co-founders and core executives:
Ivo Crnkovic-Rubsamen: Co-founder & CEO. Former CEO and Head of Research at dYdX; previously Investment Associate at Bridgewater Associates, Trader at D.E. Shaw, and Research at Sixty Capital. B.A. in Astrophysics from Princeton University.
Matthew Downey: Co-founder. Background in high-frequency crypto trading; co-founded Pascal with Ivo.