Paradigm is building a prediction market trading terminal for pro traders, with partner Arjun Balaji leading the effort since late 2025.
Paradigm is making a bold move into prediction markets.
The crypto-focused venture capital firm is developing a dedicated trading terminal for professional traders and market makers.
Partner Arjun Balaji is heading the project, which began taking shape in late 2025. The terminal aims to give serious traders better tools to navigate the fast-growing prediction markets space.
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Paradigm’s Prediction Market Trading Terminal Takes Shape
Fortune reported the development, citing sources familiar with the matter.
According to those sources, Balaji has been quietly driving the initiative for several months. The project targets professional participants, not casual retail traders.
Paradigm’s spokesperson declined to comment, and Balaji did not respond to Fortune’s request for comment.
The timing is notable. Major financial institutions are rushing into prediction markets. These platforms allow traders to bet on outcomes ranging from sports results to election winners to Bitcoin prices. Demand for professional-grade tools in this space is rising fast.
Paradigm appears to be positioning itself ahead of the curve.
Beyond the terminal, sources said that Paradigm has also discussed setting up an internal market-making desk focused on prediction markets. That would mark a shift from pure investing into active market participation.
Two separate sources confirmed this consideration is on the table.
Paradigm is developing a prediction markets trading terminal, according to sources, with partner Arjun Balaji leading the initiative since late 2025, targeting professional traders and market makers; the firm is also considering establishing an internal market-making desk and… pic.twitter.com/QR1SaM1Yog
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Exploring Prediction Market Indices and Data Tools
Paradigm’s ambitions stretch further than just a trading terminal. A third source told Fortune the firm is working with researchers to study the feasibility of prediction market indices.
The concept involves bundling multiple prediction markets into a single tradable product. Think of it as an S&P 500-style index, but built around prediction market outcomes.
This kind of product could attract institutional investors who prefer diversified exposure.
Rather than picking individual markets, traders could access a basket of outcomes in one move. It is an early-stage exploration, but the direction signals serious long-term intent.
Paradigm has also started pulling prediction market data into a public dashboard.
The dashboard represents a step toward greater market transparency. It could also serve as a foundation for the index research currently underway.
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Paradigm’s Ties to Kalshi and the Broader Market Landscape
Paradigm has a deep financial relationship with Kalshi, one of the leading prediction market platforms.
The venture firm joined three separate Kalshi fundraising rounds throughout 2025. It also led a December funding round that valued Kalshi at $11 billion. Kalshi has since raised at least $1 billion more, pushing its valuation to $22 billion.
Paradigm co-founder and managing partner Matt Huang sits on Kalshi’s board of directors. That relationship adds weight to Paradigm’s growing presence in the space.
Despite the connection, sources told Fortune that the new trading terminal does not compete with Kalshi’s platform.
The distinction matters. Paradigm appears to be building infrastructure around prediction markets, not against its portfolio companies.
The terminal, the potential market-making desk, and the index research all point to a firm shaping the next layer of the prediction markets ecosystem.
The post Paradigm Builds Prediction Market Terminal for Pro Traders appeared first on Live Bitcoin News.
