Coinbase-Backed Startup Raises $15M for Blockchain-Based Prediction Platform

A Coinbase-backed startup, The Clearing Company, has raised $15 million in seed funding to build a blockchain-based prediction platform. The startup aims to compete with Polymarket and Kalshi, two dominant players in the prediction market space. The funding round was led by Union Square Ventures and included participation from Haun Ventures, Coinbase Ventures, and other angel investors. The core team is packed with former employees of Polymarket.

A new venture, The Clearing Company, has raised $15 million in seed funding to develop a blockchain-based prediction platform. The startup aims to compete with established players like Polymarket and Kalshi in the prediction market space. The funding round was led by Union Square Ventures, with participation from Haun Ventures, Coinbase Ventures, and other angel investors [1][2][3].

The Clearing Company, founded by former staff of Polymarket and Kalshi, is building a prediction market that is on-chain, permissionless, and regulated. The startup's CEO, Toni Gemayel, previously served as Head of Growth for both Polymarket and Kalshi. The core team is composed of former employees from Polymarket, which is currently the most popular blockchain-based prediction market [1][2].

The prediction market space has gained significant attention in recent years, particularly during the 2024 U.S. elections. Polymarket, for instance, recorded 286,000 active traders in July, its highest total since April. Kalshi, a federally-regulated platform available to U.S. users, has also seen growth and expansion, hiring crypto influencer John Wang as Head of Crypto and partnering with Robinhood to enable trading on professional and college football [1][2][4].

Despite the growth, some experts remain cautious. Ethereum co-founder Vitalik Buterin noted that many major prediction markets do not pay interest, making them "very unappealing for hedging." The Clearing Company, however, emphasizes the historical and modern significance of prediction markets, highlighting their potential for simplicity, creativity, and liquidity [2].

The Clearing Company's platform is designed to be fun to create, seamless to trade, and supported by novel structures that unlock liquidity. The startup is inviting engineers and designers to join the team as it prepares to bring a new, regulated, and decentralized approach to the prediction market ecosystem [2].

In conclusion, The Clearing Company's $15 million seed funding round positions it as a significant player in the prediction market space. With a strong team and a clear vision, the startup aims to compete with Polymarket and Kalshi, offering a unique blend of blockchain technology, regulation, and user experience.

References:
[1] https://www.benzinga.com/crypto/25/08/47378142/polymarkets-new-rival-coinbase-backed-startup-bags-15-million-in-seed-funding-for-blockchain-based-prediction-platform
[2] https://www.cryptotimes.io/2025/08/28/ex-polymarket-kalshi-team-raises-15m-for-new-prediction-platform/
[3] https://www.theblock.co/post/368519/former-polymarket-exec-raises-15-million-from-coinbase-and-usv-for-rival-prediction-platform
[4] https://www.ainvest.com/news/rising-power-prediction-markets-polymarket-strategic-momentum-trump-jr-backing-signal-high-conviction-play-2025-2508/