Fortune: Paradigm is Developing a Prediction Market Trading Terminal

Deep Tide TechFlow reports that on April 1, according to Fortune, crypto venture capital firm Paradigm is developing a prediction market trading terminal aimed at professional traders and market makers, led by partner Arjun Balaji. The project has been underway since late 2025. Reportedly, Paradigm is also evaluating whether to establish an internal market-making business for prediction markets and is collaborating with researchers to explore the feasibility of creating prediction market indices—essentially bundling multiple prediction markets into tradable products, similar to the structure of the S&P 500 index. The firm has already begun aggregating prediction market data into a public data dashboard. On the investment front, Paradigm is a key supporter of the prediction market platform Kalshi, having participated in its three rounds of financing in 2025 and led the December round that pushed Kalshi's valuation to $11 billion. Kalshi's latest round of financing has reached at least $1 billion, raising its valuation to $22 billion.