TL;DR
- A new startup called The Clearing Company, founded by former Polymarket executive Toni Gemayel, has secured $15 million in seed funding led by Union Square Ventures, with backing from Haun Ventures and Coinbase Ventures.
- The company plans to launch the first blockchain-based prediction market that is both permissionless and regulated.
- With a team composed of ex-Polymarket employees, the project is aiming to challenge leading players like Polymarket and Kalshi while pushing for greater transparency and compliance.
Toni Gemayel, previously Head of Growth at Polymarket and Kalshi, announced that The Clearing Company will focus on building a next-generation prediction market designed to operate fully on-blockchain while maintaining regulatory alignment. The startup emphasizes accessibility and fairness, seeking to position itself as a bridge between the innovation of decentralized finance and the trust demanded by regulators and traditional investors.
The funding round highlights continued institutional confidence in blockchain-based markets. Union Square Ventures, known for early bets on Coinbase and Twitter, led the round, with significant contributions from Haun Ventures, Variant, and Coinbase Ventures. This strong investor lineup reflects the growing belief that prediction markets could evolve into a mainstream financial tool.
Growing Role Of Prediction Markets In Finance
Prediction markets have gained prominence as an alternative source of truth, particularly during the 2024 U.S. election cycle, when platforms like Polymarket consistently outperformed traditional polling. By allowing users to trade outcomes tied to real-world events, these markets create incentives for accurate forecasting and have attracted increasing attention from both retail and institutional players.
Polymarket, for example, has grown rapidly by enabling traders to use stablecoins such as USDC for event-based markets. Meanwhile, Kalshi has already secured federal regulation, giving it a first-mover advantage with U.S. customers. The Clearing Company, however, plans to merge the strengths of both competitors by combining decentralization with compliance, a mix that could open the door to global expansion and new forms of financial participation.
Vision For A Regulated On-Chain Future
Gemayel has described the company’s mission as creating a platform that is simple to use, creative in structure, and liquid by design. The Clearing Company is actively recruiting engineers and designers to join its team as it prepares for launch. Unlike many existing platforms, the startup places heavy emphasis on long-term sustainability, highlighting prediction markets not just as tools for speculation, but also as mechanisms for risk management and hedging.
With $15 million in backing and a team experienced in scaling blockchain-based markets, The Clearing Company is positioning itself to be a key player in reshaping how individuals and institutions engage with global events.
