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# Senators Press HHS on Prediction Markets Tied to Drug Approvals, Clinical Trials
- URL: https://www.fdaweb.com/senators-press-hhs-on-prediction-markets-tied-to-drug-approvals-clinical-trials/
- Published: 2026-11-11T21:34:04.000Z
- Updated: 2026-11-11T21:34:04.000Z
- Author: David McFarland
- Tags: Drugs

Two Democratic senators are seeking information from HHS about safeguards against insider trading and other risks associated with prediction markets that allow investors to wager on clinical trial results and FDA drug approval decisions.

Sens. **Angela Alsobrooks** (D-MD) and **Ron Wyden** (D-OR) raised the concerns in an 11/11 letter to HHS secretary **Robert F. Kennedy Jr**., asking what measures the department has taken to address potential threats to clinical research integrity and public confidence in FDA decisions, according to [CNBC, which obtained the letter](https://www.cnbc.com/2026/11/11/kalsi-polymarket-prediction-market-senators-hhs-drug-approval.html?ref=fdaweb.com).

The senators warned that prediction markets could create financial incentives to influence clinical trial outcomes, affect patients' decisions about participating in studies and enable researchers or regulators with access to confidential information to profit from advance knowledge of trial results or FDA actions.

They requested internal HHS communications concerning employee participation in prediction markets involving matters under the department's jurisdiction, correspondence with the trading platforms Kalshi and Polymarket, communications with the Commodity Futures Trading Commission, and any internal assessments of the markets' potential impact.

The congressional inquiry follows similar concerns raised by three Boston University researchers, who warned that pharmaceutical prediction markets could compromise trial integrity, encourage insider trading and undermine confidence in FDA decisions ([*FDA Webview*, earlier story](https://www.fdaweb.com/fda-prediction-markets-could-undermine-reviews-trials-researchers/)).

The researchers also questioned whether existing trading restrictions adequately cover subcontractors and others with access to nonpublic information, and whether market predictions could influence patient adherence, trial dropout rates and reported outcomes.

Kalshi, which launched its drug-related prediction markets in July, has said it limits trial contracts to late-stage studies, lists them only after enrollment is completed and uses employee verification procedures to reduce insider trading risks.

Polymarket also offers contracts tied to drug development and FDA decisions, although its relevant markets are available through its international platform rather than a U.S.-regulated exchange.