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00:02Two Democratic senators are raising concerns about prediction markets tied to clinical drug trials
00:08and Food and Drug Administration approvals, according to CNBC. Senators Angela Alsobrooks
00:13and Ron Wyden asked Health and Human Services Secretary Robert F. Kennedy Jr. what measures
00:19the department has taken to address potential risks. The senators warned that the contracts
00:24could undermine scientific research, influence trial participation, and create insider trading
00:29risks. Calci and Polymarket both offer the contracts, although Polymarkets are available
00:35only on its international exchange. When Calci launched its drug trial prediction markets in
00:40July, it introduced safeguards limiting contracts to late-stage trials that had completed enrollment.
00:47The company also pledged to use employee verification technology for all traders participating in the
00:52markets. The company argued that similar concerns apply to investors trading biotechnology and
00:58pharmaceutical stocks. Polymarket and HHS did not immediately respond to CNBC's requests for
01:04comment. For all things money, visit Benzinga.com.
