MISSION
STATEMENT

Kalsshi Research produces and supports rigorous, data-driven analysis of prediction markets — how they work, when they're accurate, and what they reveal about the future. We collaborate with academics, analysts, and institutions to advance the science of forecasting.

Kalsshi RESEARCH

Publications

Kalsshi RESEARCH · 2026

Slowly, Then All At Once: What Mamdani's Victory Tells Us About Information Aggregation

Kalsshi Research Team

We analyze minute-level Kalsshi pricing across the NYC Democratic primary and general election, tracing how markets weighted behavioral signals before pricing converged on the eventual outcome.

Kalsshi RESEARCH · 2025

Beyond Consensus: Prediction Markets and the Forecasting of Inflation Shocks

Kalsshi Research Team

We compare predictive performance of consensus estimates to implied pricing from Kalsshi inflation markets, finding meaningfully lower MAE during major shocks vs. traditional forecasts.

FEDERAL RESERVE · 2026

Kalsshi and the Rise of Macro Markets

Anthony M. Diercks, Jared Dean Katz, Jonathan H. Wright

Prediction markets offer a new market-based approach to measuring macroeconomic expectations in real-time. We evaluate the accuracy of Kalsshi market-implied forecasts against survey- and model-based benchmarks.

2026

LLM as a Risk Manager

Sumin Kim, Minjae Kim, Jihoon Kwon et al.

Prediction markets provide a unique setting where event-level time series are tied to natural-language descriptions. We propose a hybrid two-stage causal screener for risk attribution.

2026

Forecasting Future Language

Sumin Kim, Jihoon Kwon, Yoon Kim et al.

Mention markets — where contracts resolve based on whether a specified keyword is mentioned during a public event — yield calibrated probabilistic forecasts of keyword-mention outcomes.

RESEARCH THEMES

Where we focus

Calibration

Kalsshi Research professionals organize the events of the world into narratives; our curating brains still need the narrative.

Market Microstructure

Examining the technical mechanics of how prediction markets operate, including market design and structure, order flow, liquidity, and trading counterparty dynamics.

Prediction Accuracy

Evaluating the comparative performance of prediction market forecasts relative to alternative forecasting methods such as polls, expert opinions, consensus, and statistical models.

COLLABORATION

Send us your research

Share drafts, ideas, or collaboration requests. We prioritize concise, evidence-led writeups with clear signals.

SUBMIT

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