I'm surprised if there wasn't already a pool of smart contracts out there basically already emulating the space.
The obvious first principled questions come to mind: definition ambiguity in the event and thus result, the Oracle problem confounds this by essentially either giving leeway to the market deciders or by using a concrete agreed upon source of truth, such as data published to .Gov domains and other government/market API's.
The need for human capital to moderate/adjudicate claims is apparent, but would vary per domain. No need for a human to decide on public CPI data (assuming no wrongdoing or mispublishing on the .gov part), and this could be further minimized by making clearer positions/events that eventually are glued to a dedicated Oracle API.
Definitely an area that could be implemented quickly but haphazardly in an unregulated/cryptobro fashion via tokens and smart contracts, but cool to see its been developed above the table.
Cool economic calendar too, I have been looking for exactly this. https://kalshi.com/economic-calendar