Paradigm is reportedly developing a prediction markets trading terminal, according to anonymous sources in a Fortune report on Wednesday.
Arjun Balaji, a partner at the venture firm, is said to be leading the terminal initiative, Fortune reported.
Moreover, the firm is reportedly considering establishing an internal market-making desk for prediction markets and prediction market indices.
The Block reached out to Paradigm for confirmation.
Paradigm has been a significant backer of Kalshi, the largest U.S. prediction market provider, since at least June, when it led Kalshi’s $185 million Series C round at a $2 billion valuation.
The venture firm also led Kalshi’s massive $1 billion Series E in December 2025 at an $11 billion valuation.
Kalshi is currently valued at approximately $22 billion, following another $1 billion raise disclosed in March.
Paradigm founder Matt Huang has previously said that prediction markets represent a trillion-dollar opportunity. Huang sits on Kalshi’s board of directors.
Trading terminals enable users to access platforms through a custom-built trading interface, potentially aggregating opportunities across competing trading platforms.
While Kalshi and Polymarket continue to dominate the nascent prediction market sector, they are facing increasing competition. Crypto natives like Coinbase, Crypto.com, and Genesis have launched offerings, while established gambling brands like DraftKings are also tapping the field.
The Commodity Futures Trading Commission under Chairman Michael Selig has been vocal that prediction market activity is permitted under the agency’s remit. However, several states have lobbed legal challenges at firms including Kalshi and Crypto.com for allegedly violating local gambling laws.
© 2026 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Trade Crypto On Coinhub Exchange
Trade Crypto On Coinhub Exchange
Stay ahead of the market by turning news insights into trading opportunities. With Coinhub Exchange, you can seamlessly buy, sell, and manage your digital assets, all in one secure platform. Take advantage of real-time market insights, deep liquidity, and fast execution for your favorite cryptocurrencies. Don’t just read about it — trade crypto now!
Disclaimer
The content of this article shown by Coinhub News, powered by The Block, is for informational purposes only and should not be construed as financial, legal, tax, or investment advice. Coinhub News and its affiliates are not a licensed financial advisor, legal advisor, broker, or tax advisor, and ... should not be considered as professional advice or a recommendation to engage in any specific investment, legal decision, or financial transaction. Cryptocurrency markets are highly speculative and volatile. Readers should perform their own independent research and consult with a qualified professional before making any financial or legal decisions. The opinions expressed in this article are those of the author and do not necessarily represent the views or opinions of the Company of its affiliates. Additionally, the Company does not make any representations or warranties regarding the accuracy, timeliness, reliability, or completeness of any information in this article. By accessing this content, you acknowledge that any reliance on the information contained in this article is solely at your own risk. The Company is not responsible for any financial losses, legal disputes, or other damages that may arise from reliance on this content or from any investment or legal decisions based on the information provided. Investing in cryptocurrencies involves substantial risks, including the risk of losing your entire investment, and you should carefully consider whether it is appropriate for your circumstances.
Read more
