Kalshi and Polymarket say allowing people to bet on the outcomes of clinical trials and FDA drug approvals provides valuable information about drug development. But researchers warn the bets could incentivize insider trading and interfere with the integrity of the process. Fred Tanneau/AFP via Getty Images hide caption 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. "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. After months of grueling chemotherapy and radiation, he was declared cancer-free last summer. Months later, however, the cancer returned. So Pederson entered his son into a clinical trial for a novel treatment. That's around the time Pederson read the news that prediction market sites Kalshi and Polymarket have begun allowing people to bet on the outcomes of clinical trials and whether the Food and Drug Administration will approve new medications.