Kalshi to offer betting on drug trial results and FDA regulatory decisions
Summary
Kalshi, an online prediction market platform, is starting to offer bets on drug trial results and FDA decisions to provide more public information about clinical trials. The company is also considering contracts on flight delays and has filed a notice for flight cancellation betting while working to prevent insider trading.Key Facts
- Kalshi will allow bets on the outcomes of clinical drug trials and FDA regulatory decisions.
- The goal is to provide continuously updated public probabilities reflecting drug trial results.
- Kalshi requires employment verification to reduce insider trading risks.
- The drug trial contracts will be listed only after trial enrollment closes to avoid affecting recruitment.
- Kalshi partnered with AI firm AppliedXL for this pilot program.
- The platform filed with the Commodity Futures Trading Commission to offer flight cancellation contracts based on FlightAware data.
- Kalshi reached $1 billion in trading volume earlier this year and has about 5 million monthly users.
- The company donated $2 million to the National Council on Problem Gambling to support trader safety.
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