> but i did find that politics was actually one of the most efficient categories (only ~1% maker/taker gap)

I confess I'm surprised by that result in particular. I realize your results are for Kalshi, but ISTR some reports from the presidential elections on Polymarket.

But more generally: When you say there is "only a ~1% maker/taker gap", is that weighted by the size of the bets? or is it averaged over the number of bets placed?

In any case: Thanks for a very interesting paper!