The paper "Kalshi and the Rise of Macro Markets" analyzes the effectiveness of Kalshi's forecasting markets as tools for measuring macroeconomic expectations in real time.

It highlights:

• Unlike surveys, which can quickly become outdated, these markets offer high-frequency data and continuous updates.
• The authors demonstrate that Kalshi's forecasts are as accurate as those of professional analysts (such as the Bloomberg consensus) and, in some cases (such as the main CPI), show a statistically significant improvement.
• The solution responds quickly to macroeconomic developments and monetary policy signals that the data misses.

BASICALLY, they are saying that KALSHI provides BETTER DATA than the FED HAS available!!!