Exclusive: Paradigm, a major investor in Kalshi, is building its own prediction markets trading terminal, say sources

One of the most influential investors in crypto wants a bigger slice of the burgeoning prediction markets space. Venture capital firm Paradigm is developing a prediction markets trading terminal, according to sources familiar with the matter, who asked for anonymity to talk about private business dealings. Arjun Balaji, a partner at the venture firm, is leading the initiative, which will cater to professional traders and market makers, according to the sources, who say he’s been working on the project since late 2025.