Kalshi pilots betting on drug trials and FDA approvals
Business
Kalshi just rolled out a pilot where you can actually bet on whether new drugs will pass clinical trials or get FDA approval.
The idea is that the price of each "bet" (contract) shows what the crowd thinks are the real odds.
Kalshi says this could make drug development more transparent, since investors, doctors, and even patients help shape predictions in real time.
Kalshi adds safeguards amid manipulation concerns
To stop insider trading, Kalshi only lists late-stage trials after enrollment ends, and everyone has to verify their job before joining in.
They are also teaming up with AI company AppliedXL to track data from ClinicalTrials.gov and FDA documents for extra accuracy.
Still, some worry about possible market manipulation, something that has been a problem for similar platforms before.