Kalshi to allow bets on clinical trials, FDA decisions | 1330 & 101.5…

Prediction market platform Kalshi is launching markets on clinical trial outcomes and FDA decisions in partnership with AppliedXL, allowing investors to bet on individual drug approvals rather than entire company performance. The pilot restricts trading to late-stage trials with criteria defined before results are published, and includes bets on Gilead cancer drugs, Summit's lung cancer therapy, and AriBio's Alzheimer's candidate. If you're building trial forecasting, patient recruitment, or trial data analytics for biotech, you now have a market mechanism that prices your predictions in real time—and will expose which forecasters are actually right. The money moving into prediction markets on drug approvals is the earliest signal of which clinical endpoints matter to capital.