AppliedXL is now leveraging its fact-checking and verification technology to resolve prediction market contracts on Kalshi.
Today we're announcing AppliedXL's partnership with Kalshi as its independent resolution-analysis partner for biotech and pharmaceutical contracts. AppliedXL monitors and verifies the relevant public records, providing documented analysis of whether a clinical trial met its specified outcome or an FDA application was approved or rejected. Kalshi remains the sole and final adjudicator under its exchange rules. Although the underlying clinical trial and regulatory information is public, presenting it as visible, financially traded probabilities could influence how it is interpreted or acted upon, including by patients considering clinical trials. For that reason, we consulted bioethicists, physicians, investors, and R&D experts to examine potential effects on patients and trial enrollment, along with risks related to insider trading, broader ethical concerns, and market design. Their perspectives, along with our findings and proposed safeguards, are included in this white paper: https://kalshi.com/biotech The partnership represents a new application of AppliedXL’s technology for verifying fragmented public records at scale. AppliedXL does not operate the markets or set contract prices. Also in the comments: news coverage of the announcement from Bloomberg and STAT.