\begin{table}[htbp]
\centering
\begin{threeparttable}
\caption{Event Study: Cumulative Abnormal Returns Around Macroeconomic Events}
\label{tab:event_study}
\begin{tabular}{l l c c c c}
\toprule
Event Type & Window & {CAR} & {$t$-stat} & {$p$-value} & $N$ \\
\midrule
    FOMC: 25 bps decrease & [-3,3] & $-0.615$ & -5.89 & 0.107 & 2 \\
    FOMC: 25 bps increase & [-3,3] & $-0.054$ & -0.21 & 0.866 & 2 \\
    FOMC: 50+ bps decrease & [-3,3] & $-0.041$ & -0.08 & 0.951 & 2 \\
    FOMC: 50+ bps increase & [-3,3] & $-0.599$ & -0.88 & 0.542 & 2 \\
    FOMC: No change & [-3,3] & $0.115$ & 0.52 & 0.694 & 2 \\
    CPI: 25 bps decrease & [-3,3] & $-0.116$ & -1.49 & 0.275 & 3 \\
    CPI: 25 bps increase & [-3,3] & $-0.999^{*}$ & -3.01 & 0.095 & 3 \\
    CPI: 50+ bps decrease & [-3,3] & $-0.228$ & -2.83 & 0.105 & 3 \\
    CPI: 50+ bps increase & [-3,3] & $-0.545$ & -1.56 & 0.260 & 3 \\
    CPI: No change & [-3,3] & $0.023$ & 0.28 & 0.807 & 3 \\
    Election: Donald Trump & [-5,5] & $-0.057$ & -0.88 & 0.470 & 3 \\
\bottomrule
\end{tabular}
\begin{tablenotes}
\small
\item \textit{Notes:} This table reports cumulative abnormal returns (CARs) for prediction market
prices around macroeconomic events. Abnormal returns are computed relative to a constant mean
model estimated over a 60-day estimation window. $t$-statistics are computed using the
cross-sectional standard deviation of CARs. $^{***}$, $^{**}$, $^{*}$ denote
significance at 1\%, 5\%, 10\%.
\end{tablenotes}
\end{threeparttable}
\end{table}