Senators press HHS on prediction markets tied to drug trials

Democratic senators Angela Alsobrooks and Ron Wyden want to know what safeguards exist for event contracts on clinical trials and FDA decisions Two Democratic senators want the federal health department to explain what happens when drug trials become something you can bet on. Sen. Angela Alsobrooks and Sen. Ron Wyden sent a letter to the Department of Health and Human Services asking about safeguards for prediction market event contracts. The contracts in question are tied to clinical drug trial outcomes and Food and Drug Administration approvals. CNBC obtained the letter first. The core request is simple. Alsobrooks and Wyden want HHS to lay out what protections exist around markets that let traders take positions on whether a drug clears a trial or wins regulatory sign-off.

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