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Kalshi and Polymarket drug development markets raise insider trading risks for private biotechs, Pharmaceutical Technology reports
- Kalshi and Polymarket drug development markets raise insider trading risks for private biotechs, Pharmaceutical Technology reports — Pharmaceutical Technology reports Kalshi and Polymarket began offering odds on drug development outcomes in May 2026, including Kalshi odds on when the FDA will approve Eli Lilly's retatrutide and Polymarket odds on the approval date for Moderna's melanoma vaccine intismeran autogene, with hundreds of thousands of dollars bet on such events. Fenwick partners Chelsea Anderson and Noah Solowiejczyk said even private drug developers could now face insider trading exposure and regulators may limit which healthcare contracts are allowed. (Pharmaceutical Technology)
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