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glaslong
You know, I didn't expect the Insider Trading Casinos to be quite so brazenly evil. I really thought they'd have wanted to keep a lower profile, and not appear so urgently in need of being regulated or sued out of existence. They even had the template of "Sports Betting" to work from.
DANmode
They were already illegal! Why be careful, they know they’ve got the social trend and the regulatory bodies on their sides.
Lord-Jobo
They don’t need to keep a low profile, they have the president and his family using their services for enrichment. They are immune from consequence, might as well advertise at maximum and unleash hell for the most gain.

This is why principled ethical behavior MUST be a cornerstone of acceptable behavior above greed. Even if you are washing and selling greed as “financial obligations” “capital interests” or some other corporate bullshit.

Ekaros
How is such bets any different than options trading? If one is reasonable I don't see why the other would be that much different.
quickthrowman
It’s not, anyone claiming otherwise is arguing from an emotional position, not a rational one.
DonsDiscountGas
From a moral perspective I don't think it is. From a more practical perspective... It's only tiny biotechs where the share price exactly tracks a single clinical trial. This opens up ways to make more specific bets
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anotherhue
To be fair buying securities or derivatives ahead of a pharma results announcement is pretty common already.

Not to excuse these guys for all their other awfulness of course.

la6479
is there a way to see the odds for all the kalshi bets without logging in?
quickthrowman
Binary bets on drug approvals for publicly traded biotech companies are no different than going long or short the equity of the biotech company.

The incentive to interfere in drug trials has been around as long as biotech companies have been publicly traded, this changes nothing.

Introducing wildfire prediction markets is an example of something that does not exist and would be reckless and stupid. The stock market already bets on drug trial outcomes.