PANews reported on August 28th that the former prediction market platform Polymarket team launched a new project, The Clearing Company, and completed a $15 million seed round of financing led by Union Square Ventures (USV). Other investors include Haun Ventures, Variant, Coinbase Ventures, Compound, and others.

Co-founder Toni Gemayel stated that prediction markets, combined with the collective wisdom of the internet age, can overcome the slowness and bias of traditional opinion polls. The project is committed to building an on-chain, permissionless, and regulatory-compliant prediction market while providing a convenient way for retail users to participate.