Kalshi and Polymarket bets on clinical trials criticized as 'ghastly'
Prediction markets like Kalshi and Polymarket are facing criticism for allowing users to bet on the success or failure of clinical trials. Critics argue that these bets commodify patient suffering and death, turning medical outcomes into financial instruments.
Why it matters
This raises significant ethical questions about the intersection of financial speculation and life-saving medical research.
As a soon-to-be seventh grader, Joshua Pederson's son is not exactly brimming with enthusiasm when he talks about the upcoming school year.
"The thing I'm looking forward to most in seventh grade is lunch, and the thing I'm looking forward to least is everything else," said the 12-year-old.
Planet Money Do prediction market bettors make anything better? Art is his passion, but he doesn't take classes. He likes teaching himself.
"I like drawing scary stuff and robots," he said. "Because I think scary stuff and robots are cool."
Two years ago, his parents, who live in Boston, noticed a lump around his ribs that quickly spiraled into a nightmare scenario: It was cancer.
Pederson asked that his son's name be withheld to discuss details of his medical condition.
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