Polymarket and Kalshi alumni get $15M for new prediction platform
The Clearing Company, a startup founded by former staff of Polymarket and Kalshi, announced it has raised $15 million in seed funding to build a permissionless, on-chain prediction market backed by leading venture investors.
Union Square Ventures led the funding round, joined by Haun Ventures, Variant, Coinbase Ventures, and several angel investors. The company said it aims to launch a regulated platform that makes prediction markets simpler to create, easier to trade, and more liquid.
The Clearing Company is led by Toni Gemayel, former Head of Growth at both Polymarket and Kalshi. Other team members also have backgrounds in prediction markets. The firm said its vision is to create a decentralized and permissionless environment where participants can trade on outcomes ranging from elections to sports while maintaining regulatory compliance.
The announcement comes as prediction markets are experiencing renewed interest. Polymarket recently reported 286,000 active traders in July, its highest activity since April, while Kalshi has expanded its offerings by hiring a new crypto head and partnering with Robinhood to launch football-related markets.
Prominent figures have also been drawn into the sector. Donald Trump Jr. recently joined Polymarket’s advisory board, while Ethereum co-founder Vitalik Buterin has publicly critiqued existing platforms for lacking yield, limiting their appeal as hedging tools.
The Clearing Company highlighted the long history of prediction markets, citing examples from ancient Rome to pre-World War II Wall Street election markets. The team said its platform would focus on creativity, seamless trading, and liquidity structures to attract both retail and institutional users.
The Clearing Company is led by Toni Gemayel, former Head of Growth at both Polymarket and Kalshi. Other team members also have backgrounds in prediction markets. The firm said its vision is to create a decentralized and permissionless environment where participants can trade on outcomes ranging from elections to sports while maintaining regulatory compliance.
The announcement comes as prediction markets are experiencing renewed interest. Polymarket recently reported 286,000 active traders in July, its highest activity since April, while Kalshi has expanded its offerings by hiring a new crypto head and partnering with Robinhood to launch football-related markets.
Prominent figures have also been drawn into the sector. Donald Trump Jr. recently joined Polymarket’s advisory board, while Ethereum co-founder Vitalik Buterin has publicly critiqued existing platforms for lacking yield, limiting their appeal as hedging tools.
The Clearing Company highlighted the long history of prediction markets, citing examples from ancient Rome to pre-World War II Wall Street election markets. The team said its platform would focus on creativity, seamless trading, and liquidity structures to attract both retail and institutional users.
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