US Democratic senators seek HHS safeguards for Kalshi clinical trial, FDA contracts

Democratic Sens. Angela Alsobrooks and Ron Wyden have asked the U.S. Department of Health and Human Services for clarification and federal safeguards on prediction market platform Kalshi’s betting contracts tied to clinical trials and FDA approvals. After Kalshi introduced the related pilot program in July, some critics raised concerns that market odds could undermine the integrity of actual trial outcomes or regulatory processes. The senators’ inquiry signals intensifying political scrutiny of a new category of prediction market products that has remained in a regulatory gray area.