Kalshi Prediction Market and CMS's 2027 Fee Schedule Overhaul

Friday, July 24, 2026

In today's episode, Dr. Alok Patel (@alokpatelmd) & Eva Johnson cover CMS's sweeping 2027 physician fee schedule proposal, which would accelerate Medicare's shift from fee-for-service toward value-based, preventive care. They also unpack Kalshi's launch of clinical trial prediction markets; betting on FDA approvals is now a real thing, and the ethical questions are piling up. Coffee gets a heart health endorsement from the AHA, and an outbreak of Legionnaires' disease hits Manhattan's Upper East Side. Last, but far from least, we discuss the FDA's transparency whiplash on rejection letters, the first RCT of a ketogenic diet for severe mental illness, and more.

Coverage Timeline:

(00:00) Intro & Trivia Question

(01:17) Medicare Physician Payment Overhaul

(04:30) Prediction Markets for Clinical Trials

(07:12) Off the Clock: FDA, Coffee, Outbreak, Ketogenic Diet

(09:57) Trivia Answer

(11:07) Outro & Disclaimers

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