Kalshi and Polymarket Open Drug Approval Bets, Raising Insider‑Trading Fears
Kalshi launched a suite of biotech prediction markets on July 16, letting users bet real money on Phase‑3 trial outcomes and FDA approvals for companies like Sanofi and Gilead. Within days the markets moved over $100 k, but ethicists warn the new venue could amplify insider‑trading risks and erode confidence in drug research.