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About pascal
Pascal is a non-custodial prediction market on Solana settled in USDC, letting users take positions on sports, politics, crypto prices, and macro outcomes. It addresses the limitation that traditional event contracts expire and professional traders lack perpetual-style tools, layering a perpetual-futures (Perp DEX-like) matching mechanism on top of event contracts and relying on oracles to resolve outcomes, with positions held in users' own wallets rather than platform custody, and offering advanced order types and better fill quality to improve professional traders' execution experience., forming a differentiated position in the prediction-market space through its perpetual-style structure aimed at more professional trading users.
Pascal holds no clear CFTC-style license, has thinner liquidity than Kalshi and Polymarket, and its smart contracts and self-custody raise concerns about limited verifiability relative to regulated incumbents.
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.
In June 2026, Pascal opened its private beta, replacing binary event contracts with a perpetual-futures mechanism, an off-chain matching engine and Solana-based collateral. Users keep control of funds and get separate trading keys, maker rebates and an API. The beta processed more than 2 million contracts without liquidity mining or trading rewards to manufacture activity. Future strategy and roadmap: secure regulatory approvals, bring in market makers to deepen liquidity, and expand institutional order types and execution-quality metrics.
Ivo Crnkovic-Rubsamen is co-founder and CEO. He began as an investment associate at Bridgewater Associates, moved to D. E. Shaw as a quantitative trader, and in 2024 became CEO of dYdX Trading, running strategy and compliance for the derivatives business until Antonio Juliano returned late that year, at which point he turned to prediction markets. Matthew Downey, the other co-founder, spent years market making and building systems in crypto high-frequency trading; the two met through institutional trading work. In 2025 they set up Pascal. Engineering and research are led directly by the two founders, with system-development and operations-coordination roles, and members mostly from high-frequency trading and quant backgrounds.