The Fed and Prediction Markets. Yesterday, in my article on ETFs getting into the prediction market business, I noted that prediction markets may be helpful in harnessing the “wisdom of the crowds” and helping us make better forecasts. Apparently the Federal Reserve thinks there is something to this. They just published a study that concluded, “Our results suggest that Kalshi markets provide a high-frequency, continuously updated, distributionally rich benchmark that is valuable to both researchers and policymakers.”

https://t.co/MDv9uJ05Fc

https://t.co/MZVEZUqsCq

@federalreserve @Kalshi