Large Language Model Forecasting

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9 papers in the last four weeks, up 13% on the four weeks before. 0.1% of all new papers.

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Latest papers 53

Oct 1, 2026cs.LG

Do Your Own Research: Learning to Forecast by Learning to Search

Outcome-based reinforcement learning can train language models to forecast real-world events, but prior forecasting work either freezes research context before training or deploys agentic research only at test time, so the skill of gathering evidence is never shaped by the reward. We introduce an agentic forecasting environment, dataset, and harness built from 2,100+ resolved Polymarket questions; the agent acquires its own context at rollout time (web search, page reading, and financial time series, all restricted by layered leak filtering to information published before each question's cutoff), and we train Qwen3.5-35B-A3B (3B active parameters) on it with single-epoch GRPO under a Brier-score reward. Training changes how the agent interacts with information: calibration improves 30-40%, and search attempts fall from 3.8 to 2.25 per rollout as evidence discipline is learned. Evaluated in an identical harness against four frontier models, the trained policy also finishes ahead of every frontier model tested at evidence-based forecasting, including Claude Opus 4.5 (soft-Brier 0.254 vs. 0.256, n=265), at about 5% of the inference cost, and its margin is widest on the hardest questions, the ones the crowd itself had not decided. We release the environment, dataset, and per-rollout records as a reusable harness for temporal forecasting agents.

Yusuf Afifi, Artur Kiulian, Anton Polishko +3

Future Principle

Large Language Model Forecasting Data-Driven Forecasting Forecast Inference Cost

Oct 1, 2026cs.LG

Auto-Formalizing Neuro-Symbolic Predictors

Neuro-Symbolic (NeSy) predictors incorporate prior knowledge into the prediction process of neural networks, ensuring that outputs satisfy specified constraints, making them particularly suitable for high-stakes applications where compliance with domain knowledge is essential. A key bottleneck in this paradigm is the acquisition of symbolic constraints: encoding domain knowledge into logical formulas remains a manual and expert-intensive process. In this work, we investigate the extent to which auto-formalization via LLMs can systematically translate textual knowledge into symbolic knowledge that can be plugged into NeSy predictors. To this end, we introduce auto-nesy-bench, a new benchmark for evaluating constraint formalization and its impact on downstream accuracy of NeSy predictors. Through an extensive evaluation across several domains, we find that LLMs can formalize constraints to a meaningful extent, generating formulas that are often similar to those provided by human experts. Moreover, when the generated formulas are syntactically valid, they can lead to high-quality downstream predictions. The code and benchmark are available at https://unitn-sml.github.io/auto-nesy-bench/.

Samuele Bortolotti, Weixin Chen, Han Zhao +3

University of Trento, Italy · University of Illinois Urbana-Champaign, USA · University of Edinburgh, UK

Neuro-Symbolic Framework Formalization Large Language Model Forecasting Structural Constraints

Sep 30, 2026cs.AI

Reasoning Externalization for Faithful Large Language Model Narratives of Stock Return Predictions

In finance, interpreting machine learning predictions is essential, yet the numerical outputs of explainable AI can be difficult for non-experts to understand. While large language models (LLMs) can translate these outputs into natural language, they may produce errors when inferring numerical changes and feature relations. We propose an LLM narrative framework for cross-sectional stock return prediction that combines temporal Shapley additive explanations (SHAP) evidence with historical regime analogs. Temporal evidence tracks changes in the normalized global SHAP importance of an XGBoost model over six months. Historical analogs are past periods with similar changes in SHAP importance, their model performance and subsequent market returns are provided as comparative context. Using this framework, we conduct a controlled study of progressive reasoning externalization, sequentially providing raw SHAP sequences, deterministic temporal descriptors, and feature relations. Each generated claim is verified against provenance-linked evidence. Across Qwen3, externalizing numerical and relational reasoning improved evidence faithfulness as well as temporal and relational accuracy. Evidence faithfulness increased from 0.696 to 0.996 for Qwen3-32B-Instruct. While historical analogs did not improve structured automatic faithfulness, they received higher human-rated usefulness scores. These results suggest that externalizing verifiable reasoning enhances narrative faithfulness and that historical context adds interpretive value.

Sujung Kim, Seung Hwan Cho, Sangjin Park +1

Department of Industrial Data Engineering, Hanyang University, Republic of Korea · School of Interdisciplinary Industrial Studies, Hanyang University, Republic of Korea

Large Language Model Forecasting Shapley Additive Explanations Narrative Generation

Sep 27, 2026cs.LG

RICE-Alpha: Reliability-Informed Correction with Event Graphs for LLM-Agent Stock Forecasting

Equity-relevant news evolves through temporally dependent corporate events, making historical information useful only when event continuity, information availability, and transition reliability are modeled. Existing LLM-based financial agents incorporate historical evidence, yet they provide limited support for preserving issuer-specific chronology under point-in-time constraints and for identifying when historical transitions contribute information beyond the current forecast. We present RICE-Alpha (Reliability-Informed Correction with Event Graphs), a point-in-time stock-scoring framework that separates a history-aware multi-view Base Alpha from a reliability-calibrated residual correction derived from historical event continuation. A Multi-Tier Memory Layer grounds news interpretation in temporally eligible issuer-specific history, while a Typed Event Agent constructs event states whose successor relations are formed within issuers and pooled across firms only after valid local pairing. Matured transitions are calibrated by their empirical reliability, and the resulting graph signal is residualized against the Base Alpha and technical view to obtain the RICE Delta. On daily Nasdaq-100 and Hang Seng Index panels from 2024 to 2026, RICE-Alpha achieves the strongest results among the evaluated LLM-based agents and momentum across four predictive and four portfolio-level metrics. Its ICIR more than doubles that of the strongest baseline, while net Sharpe ratios reach 1.656 and 1.725 in the U.S. and Hong Kong, respectively. U.S. ablations further show significant reductions in IC and RankIC after Holm adjustment when major components are removed. These results indicate that historical event continuation adds incremental information when it is temporally grounded, reliability-calibrated, and introduced as a residual correction to a multi-view forecast.

Tong Liu, Lanmiao Liu, Xiang Hu

Zircon Security · Utrecht University · The Max Planck Institute for Psycholinguistics +1

Large Language Model Forecasting Correction Multi-View

Sep 24, 2026cs.AI

Forecast-Dojo: Replayable Environments for Benchmarking and Training LLM Forecasting Agents

We introduce Forecast-Dojo, a replayable environment for benchmarking and training LLM forecasting agents. It combines resolved prediction-market questions with dated news, allowing agents to research an event and revisit their predictions at successive historical dates. The same tasks and tools support repeated evaluation, collection of training interactions, and feedback from recorded outcomes without waiting for new events to resolve. Forecast-Dojo contains 1,568 Polymarket events, split by time into training and evaluation periods, and 18.8M dated news articles. In an evaluation of 12 models, research tools lower Brier score for all 12. Forecasts also improve as events unfold, with the largest gains at steps where more newly dated evidence is recorded. Every model still trails historical market forecasts in both Brier score and accuracy. A belief notebook carried between dates lowers research cost but does not consistently improve forecast quality. Beyond evaluation, Forecast-Dojo provides interaction trajectories and outcome feedback for agent learning, with supervised fine-tuning as a proof of concept.

Liqin Ye, Haorui Wang, Fardin Ahmed +8

Georgia Institute of Technology · Amazon · University of Florida

Large Language Model Forecasting

Sep 22, 2026physics.ao-ph

West-WRF AI 2-km: High-Resolution Prediction of Integrated Vapor Transport and Precipitation

We introduce a stretched-grid artificial intelligence (AI) weather forecasting model with 2-km resolution over the western United States and part of the Northeast Pacific and approximately 31-km resolution elsewhere globally. Forecasting over the western U.S. is challenging because complex topography and atmospheric rivers (ARs) strongly influence orographic precipitation. West-WRF AI 2-km builds on a global model pretrained with a 40-year European Centre for Medium-Range Weather Forecasts Reanalysis v5 (ERA5) dataset and is fine-tuned with the Center for Western Weather and Water Extremes (CW3E) 2-km regional reanalysis to produce autoregressive 6-hourly forecasts of precipitation and integrated vapor transport (IVT). Forecasts are evaluated over winters 2020-2023 using gridded precipitation observations, rain gauges, and AR Reconnaissance dropsondes and are benchmarked against coarser-resolution AI forecasts and regional and global numerical weather prediction (NWP) systems. West-WRF AI 2-km reproduces observed precipitation-intensity distributions, retains fine-scale spectral variability, and produces sharper narrow coastal precipitation bands and localized, terrain-sensitive extremes. Its broader-scale performance remains comparable to coarser-resolution configurations while preserving large-scale skill despite higher resolution. Dropsonde verification shows lower errors and improved categorical skill at the most extreme IVT threshold. Overall, West-WRF AI 2-km provides its greatest value for localized precipitation extremes and intense AR-related moisture transport.

Nazak Rouzegari, Vesta Afzali Gorooh, Agniv Sengupta +6

Center for Hydrometeorology and Remote Sensing (CHRS), The Henry Samueli School of Engineering, Department of Civil and Environmental Engineering, University of California, Irvine, USA · Center for Western Weather and Water Extremes (CW3E), Scripps Institution of Oceanography, University of California, San Diego, USA

Artificial Intelligence Weather Models Numerical Weather Prediction Rainfall Large Language Model Forecasting

Sep 14, 2026cs.AI

Competence-Gated Pooling of Language Models and Priors for Event Forecasting

In hybrid forecasting, a language model is often one of several available signals. A system may already have a market, crowd, or statistical forecast and must decide whether the model adds useful information or should be ignored. The relevant target is therefore not standalone model accuracy, but relative competence, defined as the model's marginal value beyond the available external forecast. Under Brier loss, we characterize when model disagreement can improve an external forecast and derive the gain from using domain-specific rather than global pooling weights. We then introduce a competence gate that estimates domain-level source weights from resolved outcomes, shrinks uncertain estimates toward a global weight, and recalibrates the pooled forecast. Across 2,357 resolved binary questions and five language models, the gate improves the main external baseline from 0.0771 to 0.0732 Brier and significantly outperforms global forecast combinations. The gain remains significant under leakage controls and against a leakage-safe time-series prior on the pooled structured set, with separate evidence on FRED. In contrast, the gate gives no significant improvement on the official ForecastBench market subset, where it largely defers to the market. Across four Qwen models, verbal confidence does not reliably identify when the model outperforms the external forecast, while outcome-estimated competence supports better abstention decisions. These results provide a practical approach for selective model use based on measured marginal value.

Aditi Tiwari, Aashrith Bandaru, Heng Ji

University of Illinois Urbana-Champaign Urbana, Illinois, USA

Large Language Model Forecasting Competence Global Average Pooling

Sep 8, 2026cs.AI

It's All in the Way You Say It: The Role of Information Representation in LLM-Based Glycemic-Event Prediction

Large Language Models (LLMs) are increasingly being investigated for physiological time-series prediction, yet their effectiveness may depend not only on the model itself, but also on how physiological information is represented and presented at inference time. This study investigates prompt-based general-purpose LLMs for postprandial hyperglycemia and hypoglycemia prediction in individuals with type 1 diabetes. Using the OhioT1DM dataset, we evaluate multiple open-weight LLMs under zero-shot and few-shot inference across prediction horizons of 30, 60, and 90 minutes. The analysis varies both the textual representation of the available physiological information and the amount of information exposed to the model, ranging from glucose observations alone to derived descriptors and additional contextual variables related to insulin, meals, carbohydrates, and physical activity. Performance is compared with conventional patient-specific supervised models and with Gluco-LLM, a language-model-based architecture explicitly adapted to glucose time-series forecasting. Results show a marked task-dependent behavior. Conventional supervised models achieve the strongest performance for hyperglycemia prediction, whereas the best observed prompt-based LLM configurations improve performance for hypoglycemia across all investigated horizons. The effectiveness of prompt-based inference is also strongly influenced by how physiological information is represented, while providing additional contextual information does not lead to a systematic improvement. Overall, these findings highlight physiological information representation as a central design factor in prompt-based LLM approaches to glycemic-event prediction.

Andrea Apicella, Pasquale Arpaia, Matteo Orefice +2

Department of Information Engineering, Electrical Engineering, and Applied Mathematics (DIEM), University of Salerno, Fisciano (SA), Italy · Department of Electrical Engineering and Information Technology, University of Naples Federico II, Naples, Italy

Continuous Glucose Monitoring Large Language Model Forecasting Physiological Data Latent Prediction Inference-Time Role

Sep 7, 2026cs.LG

Decomposition-Guided Diffusion Language Models for Inertial Confinement Fusion Prediction

Inertial confinement fusion (ICF) is a leading pathway toward clean energy, but each shot at the National Ignition Facility costs on the order of one million dollars, making accurate AI surrogates a high-value target. We study exogenous-driven ICF waveform prediction, where a 512-step neutron-rate diagnostic must be inferred directly from a laser pulse and target design parameters, with no historical response observed. The regime stresses standard time-series predictors with temporal sparsity (picosecond peak in a nanosecond window), input-output scale mismatch (under 300 real shots), and peak sensitivity (picosecond timing). We propose ICF-DLM, to our knowledge the first LM-based ICF predictor, combining (i) a physics-typed decomposition into yield

Y_{DT}

, peak timing

t_{\mathrm{peak}}

, and local waveform

w_{\mathrm{local}}

; (ii) bidirectional denoising that defers commitment to peak location; and (iii) a physics-driven PPO reward re-injecting metric structure across numeric tokens. On ICFBench (50K simulations + 232 experimental shots), ICF-DLM cuts peak-timing error from 11.6 to 9.2 steps over a matched autoregressive LLaMA-3-8B and outperforms classical sequence models and LLM-based time-series predictors. Beyond ICF, the recipe shows potential to address science domains with low data and sparse events.

Xiang Zhang, Varchas Gopalaswamy, Rahman Ejaz +2

Purdue University · University of Rochester

Nuclear Fusion Large Language Model Forecasting Diffusion Language Models

Sep 1, 2026cs.AI

LEAP: Likelihood Elicitation and Aggregation for LLM-based Probabilistic Forecasting

LLM-based forecasting systems have improved on real-world tasks such as financial markets and sports outcomes, largely through stronger search and tool use. Many systems still ask an LLM to read all collected evidence together and produce the final forecast. We call this design Monolithic Prediction. It can obscure how individual evidence items affect the result and collapse uncertainty across competing outcomes. We propose LEAP (Likelihood Elicitation and Aggregation for Probabilistic forecasting), which reorganizes how collected evidence is used in the prediction stage. LEAP examines each evidence item separately and elicits likelihood parameters that describe its implications for the target. An explicit prior and a deterministic probabilistic model then combine these likelihoods into a posterior distribution. This procedure supports continuous, single-choice, and multi-choice forecasts while preserving reproducible evidence contributions. We build a benchmark covering forecasting, information-seeking, and browsing tasks, and evaluate LEAP on our own agent loop and several agent CLI frameworks. Given the same evidence, LEAP improves most prediction and calibration metrics across models and remains stronger under controlled comparisons of prior access, inference budget, and aggregation.

Yufei Chen, Yiran Zhao, Xiaogang Xu +3

1Shandong University · 2Nanjing University of Aeronautics and Astronautics · School of Software Technology, Zhejiang University +2

Large Language Model Forecasting Probabilistic Forecasting Elicitation Reproducibility

Sep 1, 2026cs.CL

Can Large Language Models Forecast What Researchers Study Next?

Large language models increasingly generate research ideas, yet judging their novelty or feasibility at generation time does not establish whether they anticipate subsequent work. We introduce IdeaForecastBench to evaluate research idea forecasting. Given a community's literature up to a cutoff, a system produces up to five ranked ideas, which are evaluated against later papers. The benchmark comprises 624 rolling episodes across 52 topics, with a fixed retrieve-then-judge protocol and separately reported results from two judges. We compare five history-compression strategies across GPT-4.1, Qwen2.5-7B/14B, and Qwen3.5-9B, together with a learned Mode-Decomposition Forecaster (MDF). Under the primary GPT-4.1-mini judge, Summary improves on Direct in Hit@5 and Precision@5 across all four backbones. Qwen2.5 scores above GPT-4.1, whereas Qwen3.5 scores below it. An outcome-blind assessment finds that Qwen2.5 produces broader forecasts, but does not identify how much breadth contributes to its advantage. Threshold and judge diagnostics further clarify the limits of interpreting realization as precise anticipation. IdeaForecastBench provides a common task for studying which research ideas a community subsequently pursues and how reliably this outcome can be measured.

Fenghai Li, Zihan Tang, Haofei Yu +2

University of Illinois Urbana-Champaign

Large Language Model Forecasting Large Language Model Benchmarks Next

Aug 31, 2026cs.CL

Can LLMs Take the Pulse of the Economy? A Real-Time Evaluation of LLM Nowcasts on Macroeconomic Indicators

Nowcasting headline macroeconomic indicators, i.e., estimating an indicator's value for the current reference period before its official release, is critical for monetary policy and financial markets, and central banks devote dedicated teams of expert economists to producing such estimates. Large language model (LLM) agents are a promising candidate for this task, combining broad world knowledge with real-time web search and supporting queries at higher frequency than institutional nowcasts. Evaluating their nowcasting capability is, however, challenging: headline indicators such as GDP and CPI are widely reported and likely memorized during pretraining, so any evaluation on historical releases is vulnerable to data contamination. To address this, we introduce LiveMacroEval, a live, contamination-resistant benchmark in which LLM agents produce hourly nowcasts for sixteen major U.S. macroeconomic indicators over a pre-release window closing at each official release. Nowcast quality is assessed through a LiveMacro Score against announcement-window equity returns and a LiveBetting Score from simulated Polymarket-style trading, with Federal Reserve regional-bank nowcasts, the Bloomberg ECOS professional consensus, and an auto-ARIMA baseline as comparators. Over six months with four state-of-the-art LLM agents configured with web search, aggregate nowcast accuracy is broadly comparable to the institutional and professional benchmarks, with performance varying widely across individual indicators. This highlights LLM agents' potential as real-time estimators of macroeconomic conditions.

Xinyue Zhao, Ruiyi Zhang, Liqin Ye +3

Georgia Institute of Technology · University of California San Diego

Large Language Model Forecasting Large Language Model Evaluation Economies Large Language Model Agents Scores

Aug 9, 2026physics.ao-ph

Do AI Forecast Ensembles Sample the Correct Conditional Distribution?

Ensemble forecasting aims to sample the conditional distribution of outcomes; whether AI forecast ensembles do this correctly in a joint sense remains largely untested. We train a diffusion model for probabilistic subseasonal coastal sea level forecasts at eight US East Coast tide gauge stations, with sea level derived from reanalysis, and find that marginal and joint forecast quality decouple: positive skill at every station and lead time marginally, while joint spatial structure is worse than climatological draws. A shuffle-based permutation decomposition reveals this failure is invisible to the energy score but detected by the variogram score. Lorenz-96 experiments across 0.7-170 equivalent years show the gap persists regardless of training volume and is reproduced by a linear baseline, indicating structural inadequacy of the learned distribution. A dynamical ensemble does not replicate the failure while a deterministic emulator does, suggesting it is specific to learned emulators rather than ensemble forecasting generally.

Lucas J. Howard, Elizabeth A. Barnes

Boston University, Faculty of Computing and Data Sciences

Large Language Model Forecasting Conditional Distribution Distributions Covariance

Aug 9, 2026cs.LG

Efficient Test-Time Scaling for LLM-based Time Series Forecasting

Long-term time series forecasting benefits from preserving global structure such as trends and seasonality. Recent LLM-based forecasters often improve accuracy through test-time scaling (e.g., iterative refinement), but these methods are computationally expensive and increasingly prone to global-shape mismatch as the prediction horizon extends. We propose SCALER, a coarse-to-fine forecasting framework that first employs a lightweight Transformer tailored to long-term shape modeling to predict a coarse representation of future dynamics. This predicted shape then serves as a compact guide for an LLM to perform test-time scaling via iterative coarse-to-fine residual token refinement, while processing substantially fewer tokens at each step. By guiding refinement with an explicit future-shape prediction, SCALER reduces reliance on long description prompts, and its fixed-step refinement avoids costly reward-model-based selection, further lowering computational overhead. Experimental results demonstrate that SCALER outperforms strong forecasting baselines in long-term, short-term and zero-shot forecasting while significantly reducing the inference cost associated with scaled LLM for time series forecasting. Code: https://github.com/xuanmay2701/SCALER.

Xuan-May Le, Minh-Tuan Tran, Ling Luo +3

The University of Melbourne Melbourne, Victoria, Australia · Monash University Melbourne, Victoria, Australia

Time Series Forecasting Large Language Model Forecasting Test-Time Scaling Scaling Transformer Architectures Test Time+1

Aug 5, 2026cs.AI

Counterfactual Analysis via Large Language Models

Counterfactual analysis aims to predict potential outcomes under hypothetical scenarios, offering valuable insights for decision-making. This paper investigates the application of large language models (LLMs), specifically the GPT-3.5 model, for counterfactual analysis. We focus on the online lending context, where the counterfactual return on investment (ROI) is crucial for evaluating different interest rate schemes. We begin by assessing the predictive performance of GPT and comparing it with advanced machine learning algorithms. The results show that prompt engineering can significantly enhance GPT's predictions, with the R-squared increasing from 1.97% to 2.84%, closely approaching the 3.48% achieved by gradient-boosted regression. Subsequently, we utilize GPT to generate counterfactual ROIs under a set of alternative interest rates. GPT exhibits logical coherence and causal reasoning in its responses. The findings underscore the potential of LLMs as effective tools for counterfactual analysis in online lending, suggesting broader applications for LLMs in various predictive and decision-making contexts.

Zonghao Yang

Stevens Institute of Technology

Large Language Model Forecasting Generative Pretrained Transformers

Aug 5, 2026cs.AI

From Score Matrices to Football-Aware Match-State Simulation: An Auditable LLM Harness for Exact-Score Reranking

Football score forecasting combines a strong statistical core with a difficult contextual edge. Dynamic Poisson-family models estimate team strength, expected goals, and coherent score probabilities, but do not directly understand roles, tactical matchups, motivation, or how a first goal changes behaviour. Large language models (LLMs) can reason about such concepts, yet are not calibrated probability engines. We combine both components through an auditable information harness. This paper documents four iterations: V1, a dynamic score-driven Dixon-Coles baseline; V2, which maps LLM contextual ratings back into expected-goal parameters; V3, which replaces scalar correction with goal-by-goal simulations over a frozen score-candidate set; and V4, which adds shared first-breakthrough and post-goal cascade judgments, time-aware stopping, and deterministic tail candidates. The harness defines input semantics, supplies pre-match evidence, and constrains the LLM to an inspectable reasoning route. On a chronological replay of the first 150 matches of the 2025-26 English Premier League, V1 achieved 10.0% Top-1 and 26.7% Top-3 exact-score accuracy. V3 reached 12.0% and 30.0%, while V4 reached 14.7% and 30.7%. V4 increased candidate coverage from 77.3% to 84.7%, although no added tail candidate became a Top-3 exact hit. V1's native 1X2 distribution achieved 53.3% argmax accuracy, 0.9878 log loss, 0.5870 Brier score, and 0.2095 ranked probability score. These results are exploratory: the development slice is not an untouched benchmark, and temporal input isolation cannot exclude outcome memory in a closed LLM. The contribution is an auditable hybrid architecture, a clear design evolution, and negative findings showing where football-aware simulation does and does not improve score selection.

Shaopeng Liang

Independent Researcher

Large Language Model Forecasting Model Judgments

Aug 5, 2026cs.AI

Otter: A Time-Aware, History-Conditioned Human Chess AI

Otter is a 15.3M-parameter human chess AI that predicts human move selection by modeling play as a time-aware, sequential process rather than treating each position in isolation. It combines two conditioning signals: (1) a move history encoder that conditions predictions on the last 20 moves, capturing opening preferences, positional drift, and intra-game behavioral tendencies; and (2) a time control module that modulates predictions based on clock pressure. Otter is trained on 6.1 billion positions from 117 million Lichess rapid games over 30 days on a single T4 GPU. Otter achieves 55.23% top-1 and 90.95% top-5 move-prediction accuracy, surpassing the prior state-of-the-art human chess model, Maia 2, with far fewer parameters and less training data. Across 11 Elo brackets (<1100 to >=2000), accuracy peaks at 57.38% in the 1900-1999 bracket. These results show that modeling chess as a time-aware, sequential activity yields more human-accurate move prediction than position-only approaches, using a smaller model. Code, trained models, and complete training logs are publicly released.

Tarun Kumar S

Peargent Labs Bangalore, India

Chess Human Motion Prediction Artificial Intelligence Models Large Language Model Forecasting Role-Playing Agents

Aug 4, 2026q-fin.MF

From Financial Sentiment Classification to Return Predictability: A QLoRA Benchmark of Large Language Models

Financial sentiment classifiers are commonly evaluated against human labels, but strong linguistic performance does not necessarily imply economically useful return predictability. This study separates these questions through two experiments. First, we construct a unified three-class benchmark from five financial text datasets and compare TF--IDF Naive Bayes, off-the-shelf FinBERT and Financial-RoBERTa encoders, zero-shot Qwen2.5-7B, and QLoRA-adapted Qwen2.5-7B, LLaMA3-8B, and Mistral-7B models. Mistral-7B achieves the best test accuracy (0.8840) and macro-F1 (0.8771), while QLoRA raises Qwen2.5's macro-F1 from 0.7274 to 0.8615. An inverse-frequency class-weighted loss does not improve Qwen2.5. Second, we evaluate economic validity on a temporally separate 2019 Benzinga sample containing 10,637 unique headlines and 13,115 headline--stock observations for a fixed S&P~100 universe. Model probabilities are converted into continuous sentiment scores, aggregated by stock and signal date, and aligned with next-session returns over one-, two-, three-, and five-day horizons. All seven downstream models produce positive but small mean rank information coefficients at the one-day horizon; the largest is 0.0143 for FinBERT. None of the 28 model--horizon tests remains significant after Newey--West inference and false-discovery-rate correction. Portfolio results likewise fail to establish a robust advantage for the best-performing classifiers. The findings show that QLoRA is effective for financial sentiment adaptation, while also documenting a clear gap between classification accuracy and tradable cross-sectional signals.

Fusheng Luo

Johns Hopkins University Baltimore, Maryland, USA

Financial Sentiment Analysis Legal Natural Language Processing Benchmarks Large Language Model Forecasting Predictability Multi-Turn Benchmark

Aug 4, 2026cs.CL

SocietyBench: Forecasting Counterfactual Social-World Evolution

Large language models (LLMs), and the agents built on top of them, are now benchmarked heavily on whether they can finish a task -- fix a bug, drive a browser, operate a GUI. A complementary social ability, namely how well a model understands and forecasts the way real social events unfold, has barely been measured. We introduce SocietyBench, an end-to-end benchmark that takes a one-line event topic, collects Web news and social-media posts across five platforms, distills them into a date-indexed timeline that keeps factual events and a public-opinion layer separate, and then turns every cutoff date on that timeline into an audited bank of forecasting questions. Questions are scored on two orthogonal 100-point axes: probability calibration and temporal accuracy. Before any model sees a timeline, a three-phase procedure replaces every named entity and shifts every date by a per-event constant, turning a real arc into a counterfactual social world -- structurally identical to what happened, but stripped of the surface labels a model could match against pre-training memory. On five heterogeneous events and 125 prediction points in Chinese and English editions, the strongest of six frontier LLMs reaches only 75.0 out of 100, against a trivial anchor of 50. The two axes come apart: a model can be calibration-strong but time-weak, or the reverse. Three agent frameworks built on a shared base model fail to improve on that base, and two model-free heuristics trail every LLM. Per-event gaps reach 21.4 points on a single axis, which is our main argument for evaluating on several events rather than one. All anonymized timelines, question banks, ground truth, and scoring code are released.

Zhenran Wang, Zhonghan Bian, Jinsong Li +1

Large Language Model Forecasting Counterfactuals

Aug 4, 2026cs.CL

WorldCup Arena: Prospective, Leakage-Free Evaluation of Frontier LLMs on a Live Tournament

Benchmarks that measure the forecasting ability of large language models are almost always retrospective: the event has happened, the answer is somewhere on the Web, and the evaluation must defend itself against memorisation. We report the opposite design. Over the 39 days of the 2026 FIFA World Cup, six frontier LLMs -- all with extended thinking and native server-side web search -- were asked before every kickoff, one match at a time, to fill in a seven-market prediction card for all 104 matches, plus 12 group winners and a pre-tournament outright pool; no answer existed when the question was asked, so the evaluation is leakage-free by construction rather than by filtering, and the frozen archive holds 4,494 scored predictions. What the tournament establishes is a set of behaviours the six systems share. On match outcome they average 63.9%, level with backing the bookmaker's favourite -- which is in fact what they usually do. They agree with one another far more often than they are right, so a majority vote adds nothing. They under-commit to draws and to goals, and crowd their scoreline picks onto a single prototypical result. Accuracy tracks how lopsided a fixture is rather than how much is known about it: it collapses in the closest ties, where the dossiers are richest, while questions about the tournament as a whole are answered well. On this task the current generation of frontier systems is not sharply differentiated: the standings hold up at the top and the bottom across the run and churn in the middle, and the margins stay narrow throughout. The briefing dossiers, fixtures and official results are released as a benchmark, together with the scoring code.

Zhenran Wang, Zhonghan Bian, Jinsong Li +1

Large Language Model Forecasting Competition Frontier Models Scoring Leakage

Jul 27, 2026cs.AI

LLM-SoccerArena: Benchmarking LLMs on Real-World Predictions in Sports

Large language models (LLMs) increasingly support decisions about uncertain future events, yet evaluating their ability to forecast real-world outcomes remains difficult. In particular, existing benchmarks are typically static and retrospective, and therefore cannot test how information is synthesized by LLMs to predict future events under uncertainty. We introduce LLM-SoccerArena (https://llm-soccerarena.com), a prospective live benchmark that evaluates how well LLMs forecast real-world sports events before the outcomes are known. LLM-SoccerArena provides (1) a prospective live benchmark protocol, (2) a public open-source platform, and (3) a factorial benchmark design together with tournament-related questions (e.g., which team will win). LLM-SoccerArena automatically records timestamped, schema-validated forecasts of unresolved events, together with prompts, model versions, tool traces, and costs. The factorial design varies along four dimensions: (1) model version (e.g., GPT-5.5, Claude Opus 4.8); (2) information access; (3) prompting strategy, and (4) forecast horizon. We demonstrate LLM-SoccerArena through a large-scale evaluation of the 2026 FIFA World Cup, in which seven LLMs generated forecasts for all 104 matches and 15 tournament-related questions. We provide a detailed analysis of model performance across information access, prompting strategy, and forecast horizon. As a result, LLM-SoccerArena provides new evidence about the forecasting performance of state-of-the-art LLMs. For example, LLMs with web access outperform those without, but only by a small margin (i.e., a 0.023 improvement in Brier score). Overall, LLM-SoccerArena provides a flexible, open-source platform for prospective benchmarking of unresolved events. LLM-SoccerArena will be continuously updated, and can be directly applied to future national and international tournaments and league competitions.

Jonas Schröder, Jonas Schweisthal, Oliver Müller +2

MCML & LMU Munich Munich, Germany · Paderborn University Paderborn, Germany · University of Cologne Cologne, Germany

Large Language Model Forecasting Chatbot Arena

Jul 27, 2026cs.LG

FinAbstain: Uncertainty-Calibrated Multimodal RAG for Selective Financial Forecasting

Large language models (LLMs) can synthesize financial narratives but may express high confidence when evidence is sparse, stale, or contradictory. This failure is especially consequential in forecasting, where filings, news, prices, volume, and technical signals can disagree. We present FinAbstain, a research framework for uncertainty-calibrated multimodal retrieval-augmented generation (RAG) with selective prediction. A point-in-time retriever admits only information public at the forecast timestamp and supplies modality-specific evidence to fundamental, news, technical, risk, and verification agents. Their probabilistic assessments are aggregated with retrieval relevance, evidence contradiction, repeated-sample consistency, and historical calibration statistics. Temperature scaling, isotonic regression, conformal prediction, and a proposed hybrid uncertainty score are evaluated under a common chronological protocol. A controller predicts bullish, bearish, or neutral outcomes only when uncertainty is below a validated threshold; otherwise it abstains, requests evidence, reduces exposure, or routes the case to human review. The evaluation covers one- and five-day abnormal-return direction, twenty-day volatility intervals, and abstention decisions, using accuracy, calibration, risk--coverage, citation, trading, latency, and cost metrics. To make the design auditable before a full data collection is complete, we report explicitly labeled simulated results rather than empirical claims. These results illustrate the intended hypothesis: calibrated abstention may trade coverage for lower selective error and drawdown. The contribution is a time-safe architecture, a composite uncertainty formulation, and a reproducible evaluation blueprint for evidence-grounded selective financial forecasting.

Dorothy Torres, Wei Cheng, Henan Huang

School of Science, Technology, Engineering and Mathematics 263 Academy Street, Room S204 Jersey City, NJ 07306 · School of Electrical Engineering and Computer Science The Pennsylvania State University 207 Electrical Engineering West University Park, PA 16802, USA

Large Language Model Forecasting Uncertainty Score Multimodal Retrieval Augmented Generation

Jul 27, 2026physics.geo-ph

HydroAgent: Formalizing Forecaster Expertise into Skill-Orchestrated Flood Forecasting Workflows

Operational flood forecasting depends on tacit forecaster expertise that is difficult to formalize, audit, and transfer. Although artificial intelligence methods have advanced flood prediction and model-error correction, most existing studies have not explicitly represented the tacit expert rules, review checkpoints, and workflow constraints that connect model outputs to operational warning decisions. To address this issue, we propose HydroAgent, a skill-orchestrated agent framework that embeds Large Language Models (LLMs) into a model-driven flood forecasting workflow, where each skill encodes explicit rules to bound LLM reasoning. We validated its effectiveness using five state-of-the-art LLMs in the South Yamhill River basin. Our results demonstrate that prior judgment captures observed peak flow and flood volume within 5% tolerance in 10 and 11 out of 14 events, with 5-fold cross-validation over 129 events yielding Pearson correlations of 0.62 and 0.84. Building on a high-baseline scheme library (average KGE 0.890), the guided scheme selection further improves KGE by 0.023-0.154, with simulated peak flow and flood volume falling within the prior judgment ranges for 14 and 13 out of 14 events. All five tested LLMs successfully execute the HydroAgent workflow with comparable judgment accuracy (40%-80%), while showing moderate performance variation and substantial cost differences. HydroAgent does not aim to replace human forecasters; instead, it translates their tacit expertise into an auditable and reproducible workflow, streamlining analytical steps and supporting more informed decision-making. This skill-orchestrated paradigm demonstrates how explicit rule boundaries can guide language model reasoning to complement physically based simulation in next-generation flood forecasting.

Qingyi Yang, Siqian Qiu, Bing Li +20

Department of Civil and Environmental Engineering (D.I.C.A.), Politecnico di Milano, 20133 Milano MI, Italy · College of Hydraulic and Environmental Engineering, China Three Gorges University, 443002 Yichang, China · 3Independent Researcher, Shandong, 252300, China +16

Accurate Flood Prediction Sen1Floods11 Large Language Model Forecasting Data-Driven Forecasting

Jul 20, 2026cs.AI

WorldCupArena: Fine-Grained Evaluation of Language Models and Deep-Research Agents on Football Forecasting

Predicting a football match before kickoff requires more than knowing past results: a model must use changing information and make a clear prediction before the answer is available. We present WorldCupArena, a dynamic benchmark for language models and deep-research agents. The 2026 FIFA World Cup is its first evaluation, and the same process can be reused for future leagues and cups. Before each match, a model either receives a common evidence package or searches for information itself. It predicts the result and score, likely players and events, match statistics, and the outcome of the competition. After the match, these predictions are compared with the recorded result. We report result accuracy, exact-score accuracy, and a scoreline score that gives some credit when a predicted score is close but not exact, together with scores for the other prediction tasks. Across systems, similar result accuracy can mask larger differences in detailed predictions. Four systems predicted champion Spain, and two of them also recovered the exact final pairing. Compared with betting-market and human-fan baselines, the best system shows only small gains in result and exact-score accuracy, but a clearer gain in Scoreline. New schedules can be added as they begin, allowing the benchmark to evaluate future models without using outcomes that are already known. Code, predictions and evaluation scripts will be publicly released.

Zhaokai Wang, Tianlin Gui, Jiayuan Rao +3

Shanghai Jiao Tong University · Shanghai, China · Nanjing University +4

Large Language Model Forecasting Model Evaluation

Jul 20, 2026cs.LG

FIFA World Cup 2026 as a Contamination-Free Benchmark for LLM Forecasting Agents: Four Models, a Bookmaker, and 104 Matches

We introduce WC2026-Agents, a benchmark and dataset for evaluating large language models (LLMs) as autonomous forecasting agents on real, future events. For every one of the 104 matches of the 2026 FIFA World Cup, four frontier models -- Claude Opus 4.8, ChatGPT (GPT-5.5, high reasoning), Gemini 3.1 Pro, and Grok (Expert Mode) -- ran an identical search-act-reflect loop: gather evidence with a web tool, commit to a 1X2 (team-A win / draw / team-B win) distribution and a virtual 100-USD bet, and, after the match, reflect given only the final score. Because every match kicked off after the models' training cutoffs, the benchmark is contamination-free by construction. Crucially, we pair the four agents with a fifth competitor drawn from the same information environment -- the pre-match betting market -- collected as per-match 1X2 odds, giving an economically grounded baseline and letting us score not just what an agent predicts but what it does with money. The release contains 416 forecasts and 414 reflections with verbatim reasoning, ground truth (including penalty shootouts), odds, and a reproducible evaluation suite. A reference evaluation surfaces findings that raw accuracy hides: the four agents issue an identical top pick in 92% of matches and none beats the market's Brier score; indeed, a naive flat stake on the market favorite out-earns all four agents. Yet the agents diverge sharply as decision-makers: betting return-on-investment ranges from -18% to +10%, fading the market is unprofitable for all four, the share of forecasts that cite the market ranges from 12% to 100%, and self-reported error rates on wrong picks range from 36% to 86%. The benchmark thus measures calibration, decision quality, and self-knowledge -- axes on which frontier models differ even when their predictions do not. Data and code: https://github.com/graphuofm/FIFA2026LLM

Jiacheng Ding, Cong Guo, Jason Xu

University of Memphis Memphis, Tennessee, USA · QuantaInsight Seattle, Washington, USA

Large Language Model Forecasting Betting Frontier Models

Jul 15, 2026cs.CL

Hindcast: Replaying Prediction Markets to Evaluate LLM Forecasters

Forecasters are evaluated by backtesting, which replays resolved questions and grades the probability the system would have assigned before the outcome was known. For LLMs, two channels leak the answer into this test. A model that retrieves can surface reports written after the event, turning forecasting into a lookup, and each new model is trained on data closer to the event, so a question that lay in the future for last year's models sits inside this year's training data. Either way, the test grades recall while claiming to grade foresight. We introduce Hindcast, which closes both leaks by grading a model as if it stood at a chosen past date

t_0

, before the outcome existed in either channel. Hindcast replays resolved Polymarket prediction markets against a frozen snapshot of public Reddit, lets the model read only posts written before

t_0

, and scores each forecast against both what happened and the market's own price at

t_0

, itself a human forecast made from the same past information. Because the cutoff is set per market and the snapshot never changes, the evaluation re-runs on new markets as models improve, without going stale. Once the leak is closed, retrieval still helps most models, but only where Reddit discussed the event beforehand. Where the archive carried only speculation, retrieval hurts.

Xiao Ye, Jacob Dineen, Evan Zhu +3

School of Computing and Augmented Intelligence, Arizona State University

Large Language Model Forecasting Foresight Replay

Jul 10, 2026cs.CL

Global Merger-Arbitrage Forecasting with Language Models

We present a language-model forecasting system for merger arbitrage, a specialized high-stakes financial setting in which the task is to predict the outcome of announced M&A deals. Unlike prior work on judgmental forecasting with LLMs, which has focused on broad mixed-topic benchmarks and short context such as news snippets, we study a setting that requires long-context reasoning over hundreds of pages of technical documents. Our system combines expert-guided context engineering with finetuning on hindsight-guided reasoning traces derived from historical deals. Given an announced deal, it outputs a probability distribution over three mutually exclusive outcomes: closing at announced terms, a higher bid, or deal termination. On an out-of-sample set of more than 400 large deals spanning 42 countries, our finetuned system achieves the best performance of any method we evaluate, reducing class-balanced Brier score to 0.151. This is 24% below calibrated market-implied probabilities, 19% below XGBoost, and 25-42% below frontier language models. These results, together with ablation studies, show that LLM-based forecasting can succeed in specialized, long-context financial workflows, with hindsight-based supervision and expert-designed context playing a critical role.

Hinal Jajal, Michal Mucha, Charles Sweat +3

Balyasny Asset Management

Large Language Model Forecasting Data-Driven Forecasting Probability Hindsight Agentic Workflow Design

Jul 9, 2026cs.CL

What LLM Forecasters Know but Don't Say: Probing Internal Representations for Calibration and Faithfulness

Large language models fine-tuned for forecasting can be accurate yet poorly calibrated, and their chain-of-thought (CoT) reasoning may not faithfully reflect the evidence behind a forecast. We ask whether internal representations offer a more direct window into both. Working with Eternis-Forecaster 8B on OpenForesight, we train representation-pooling probes on intermediate activations and find they achieve substantially better calibration; a result that also holds for GLM-4.7-Flash and GLM-4.5-Air. We then assess CoT faithfulness through evidence ablation and diversionary injection: removing an influential source in the prompt often changes the model's forecast while leaving the reasoning trace untouched. The same probes function as lie detectors: their activations track behavioral shifts far better than the reasoning trace does, and they also predict the direction of change in 84% of cases, including when the CoT conceals the perturbation's influence. Finally, forced answering reveals that forecasts are largely fixed before reasoning begins: a single pre-reasoning pass recovers the committed answer and confidence, and routing questions by the spread of this pre-set answer distribution saves 30-47% of generated tokens, with no loss of accuracy. Together, these results establish probing internal representations as a practical tool for calibrating, auditing, and triaging language model forecasters and reasoning models more broadly.

Raphaël Sarfati, Pratyush Ranjan Tiwari, Siddharth Boppana +3

goodfire · eternis

Large Language Model Forecasting Data-Driven Forecasting Reasoning Skills Chain-of-Thought Reasoning Faithfulness Answer

Jul 5, 2026cs.AI

Shortcut Learning in Legal Judgment Prediction: Empirical Evidence from the UK Employment Tribunal

Current Legal Judgment Prediction (LJP) is constrained by its reliance on post-hoc judicial materials, increasing the likelihood that models perform retrospective classification rather than true forecasting. This paper empirically investigates shortcut learning in this context by studying claim-level outcome prediction in UK Employment Tribunal (UKET) decisions. Using a corpus of 33,158 individual claims, we predict outcomes from claim texts and LLM-extracted case summaries, evaluating models ranging from interpretable TF-IDF-based classifiers to black-box LLMs. While headline predictive performance figures appear strong, we demonstrate that such performance in LJP systems trained on post-hoc judicial text can be driven by the retrospective nature of the source material. Stratifying the test data by human judgments of leakage reveals that performance increases where outcome-revealing cues are embedded in the narrative. Moreover, a model trained on just the 4% of features identified as leakage achieves high performance, outperforming human experts. These findings substantiate concerns that LJP performance may be exaggerated by linguistic artefacts. Yet this vulnerability is not fatal to the research agenda. Instead, post-hoc judgments might be treated as potentially contaminated texts, requiring active auditing. Retraining models after masking leakage features results in only a negligible reduction in Macro-F1. Hence, while models will opportunistically exploit shortcuts when available, they remain capable of extracting useful predictive signals when these artefacts are removed.

Joe Watson, Joana Ribeiro de Faria, Marcus Tomalin +6

Faculty of Law, University of Cambridge, Cambridge, United Kingdom · The Psychometrics Centre, Cambridge Judge Business School, University of Cambridge, Cambridge, United Kingdom · Faculty of English, University of Cambridge, Cambridge, United Kingdom +3

Large Language Model Forecasting Clinical Prediction Empirical Study Shortcut Learning Jobs Post-Hoc

Jun 29, 2026cs.CL

Measuring Judgment Quality in Natural-Language Explanations: Evidence from Forecasting Tournaments

Decision-makers routinely rely on expert judgments accompanied by written explanations, yet explanation quality is difficult to measure at scale. Forecasting tournaments offer a natural testing ground: probabilistic judgments are paired with natural-language rationales and scored against realized outcomes. We introduce Explanation Quality Markers (EQMs), a set of sixty theory-guided reasoning patterns scored by large language models (LLMs). In a pre-registered analysis of over 55,000 forecast-rationale pairs from a multiyear forecasting tournament, EQMs predict accuracy at both the forecast and forecaster levels, consistently outperforming pre-LLM text-analysis methods. More than 90% of statistically significant pattern-level EQM-accuracy correlations match our directional hypotheses. The signal is asymmetric: EQMs identify likely underperformers more reliably than they distinguish the very best forecasters. Benchmarked against traditional indicators of forecasting skill, EQMs are the strongest predictor at the forecast level and competitive at the forecaster level, though weaker than prior accuracy. Human ratings of rationale quality are less consistently correlated with accuracy and place disproportionate weight on rationale length. Results transfer to an independent forecasting study. EQMs provide a scalable, interpretable method for extracting judgment-relevant information from written explanations.

Christopher W. Karvetski, Sheldon S. Huang, Simas Kučinskas +4

Forecasting Research Institute · Good Judgment Inc · University of Toronto +4

Large Language Model Forecasting Forecast Explainable AI Methods

Jun 29, 2026cs.AI

Diversity is the Strength of the AI Crowd

Top AI forecasting systems are approaching superforecaster-level accuracy on future world events, but still rely primarily on off-the-shelf LLMs combined with forecasting-specific context gathering and scaffolding. We study how to improve this recipe through ensembling: given a fixed number of samples, which off-the-shelf model forecasts should be combined to maximize accuracy? On binary questions from the Metaculus AI Benchmark, we find that individual accuracy is not enough: many frontier LLMs make highly correlated predictions, limiting the value of additional forecasts from the same or similar models. Instead, the strongest ensembles combine accurate but diverse forecasters, with models such as \model{Grok 4} contributing disproportionately because their predictions are less correlated with other frontier LLMs. These results suggest that the strength of the AI crowd comes not from sampling more forecasts indiscriminately, but from combining forecasts across models with complementary errors, motivating forecasting systems that explicitly optimize for both model quality and diversity.

Matthew Aitchison, Scott Jeen, Toby Shevlane +1

1Mantic Technologies, London, UK.

Large Language Model Forecasting Artificial Intelligence Models Diversity

Jun 25, 2026cs.CL

Forecasting With LLMs: Improved Generalization Through Feature Steering

Successful forecasting involves identifying patterns between historical and future states of the world which generalize to future observations. We apply LLMs to a variety of forecasting tasks and inspect their internal states using sparse autoencoders to understand whether they appear to rely on time-specific pieces of knowledge versus generalizable patterns. Our analyses identify features associated with both time-aware reasoning and look-ahead-biased reasoning. We then apply the LLMs to an entirely different domain and intervene on these features. We find that amplifying time-awareness features substantially reduces look-ahead bias on forecasting prompts while preserving general reasoning performance. In contrast, steering the candidate look-ahead-bias features does not produce an effect. These results suggest that interpretable temporal features can be used to causally shift LLMs toward more historically grounded reasoning.

Humzah Merchant, Bradford Levy

University of Chicago, Illinois, United States.

Large Language Model Forecasting Data-Driven Forecasting LLM Reasoning Strategies Lookahead Improved Generalization Steering

Jun 21, 2026q-fin.ST

Leakage-Aware Benchmarking of LLM Forecasting: Real-Time Nowcasts as the Decision-Time Input for Macro Factor Ranking

Forecasting benchmarks for retrieval-augmented LLMs routinely confound model capability with information leakage: features labeled with a target's timestamp are often not observable at the system's decision time. We study leakage-controlled equity factor ranking with a retrieval-augmented 7B open-source LLM forecaster. At each month-end from 2023-04 to 2026-03, the forecaster observes only decision-time information: lag-shifted FRED macro variables, recent macro-event summaries, and the Cleveland Fed's archived daily CPI nowcast for unreleased current-month inflation. A macro-analog retrieval module selects historical states, a critic LLM compresses them into one tactical rule, and an actor LLM maps the current state and recent rules into scores for seven U.S. equity style factors. The full pipeline obtains a median monthly Spearman rank IC of +0.154, with positive means across three non-overlapping contiguous 12-month subwindows; the mean IC remains statistically underpowered, with a bootstrap 95% confidence interval that includes zero. Non-LLM baselines under the same decision-time constraint demonstrate that a kNN macro-analog model recovers a comparable median IC, indicating that real-time inflation information and macro-similar retrieval explain much of the median signal. The LLM pipeline retains higher mean IC and a stronger long-short allocation sanity check, suggesting that any marginal benefit is concentrated in the extreme rankings that drive long-short portfolio formation. A descriptive audit of the 36 critic rules and per-month case studies appears in the appendix.

Mao Guan, Qian Chen

Independent Researcher.

Large Language Model Forecasting Leakage Decisions

Jun 14, 2026cs.LG

David vs. Goliath in Next Activity Prediction: Argmax vs. LSTM, Transformer, and LLM

Next activity prediction (NAP) is a cornerstone of predictive process monitoring (PPM), enabling organizations to move from retrospective analysis to proactive process steering. The PPM field has progressed from classical machine learning through deep learning architectures such as LSTMs and Transformers to large language models (LLMs). Despite growing model complexity, no benchmark jointly compares LLMs, Transformers, LSTMs, and simple baselines in a direct sequence modeling setting for NAP. In this paper, we fill this gap with a systematic benchmark. We compare vocabulary-adapted LLMs, Transformers trained from scratch, LLM-distilled Transformers, and LSTMs against a simple counting-based argmax baseline across seven real-life event logs. Our results tell a David vs. Goliath story: pretraining confers no consistent improvement over training from scratch, model size shows little effect on performance, and on most datasets the argmax baseline matches or approaches the performance of billion-parameter LLMs.

Hans Weytjens, Ingo Weber

Technical University of Munich, School of CIT, Germany · Fraunhofer Gesellschaft, Munich, Germany

Next-Token Prediction Large Language Model Forecasting

Jun 11, 2026cs.AI

Nous: An Attempt to Extract and Inject the Cognition Behind Prediction-Market Behavior

As LLM agents proliferate in prediction markets and collective decision-making, they risk a cognitive monoculture: agents built on shared foundation models produce correlated forecasts, and recent measurement finds frontier-model errors correlated at r ~ 0.77. We ask whether human cognitive diversity can be recovered from behavior and transferred to LLM agents. Nous extracts a structured eight-dimension behavioral profile from real Polymarket trading activity and injects it into agents through prompts. Our central finding is a dissociation between the two halves of that pipeline. Extraction works, partially: across 100 wallets, 8 of 14 parameters are temporally stable (split-half ICC >= 0.5, bootstrap CI lower bound > 0.3; contrarian score reaches ICC ~ 0.9); wallets are identifiable from their profiles well above chance (top-1 retrieval 17-22% vs. 1% chance); and two of four pre-specified dimensions rank-correlate with future realized profit out-of-sample, though the correlations do not survive behavioral-confound controls. Prompt-level injection does not measurably transmit it: on a semantic embedding metric, structured injection shows no significant advantage over a length-matched control on any model, and the diversity it induces neither reduces ensemble error correlation nor improves Brier score -- a null that persists across exploratory checks on sampling temperature, profile diversity, and question difficulty. Measuring the prompts themselves locates the compression before the model: the structure-to-narrative translator emits near-uniform prompts whose spread does not track profile spread. We position Nous as measuring the cognitive-monoculture problem and the limits of a prompt-level remedy, motivating deeper, below-the-prompt injection (fine-tuning, activation steering). Code, frozen profiles, prompts, and model outputs: https://github.com/WillChienT/nous-paper

Haowei Qian

Independent Researcher

Large Language Model Forecasting Cognitive Science Agent Behavior Modeling Frontier Models Prompt-Injection Detectors Extraction

Jun 9, 2026cs.SI

Building Social World Models with Large Language Models

Understanding and predicting how social beliefs evolve in response to events -- from policy changes to scientific breakthroughs -- remains a fundamental challenge in social science. Given LLMs' commonsense knowledge and social intelligence, we ask: Can LLMs model the dynamics of social beliefs following social events? In this work, we introduce the concept of the Social World Model (SWM), a general framework designed to capture how social beliefs evolve in response to major events. SWM learns state-transition functions for social beliefs by mining temporal patterns in social data and optimizing the evidence lower bound, without the need for explicit human annotations linking events to belief shifts, or for expensive census data. To evaluate SWM, we introduce a benchmark, SWM-bench, derived from real-world prediction markets, specifically Kalshi and Polymarket. SWM-bench includes over 12k data points for social belief prediction tasks spanning diverse domains such as politics, finance, and cryptocurrency. Our experimental results show that SWM significantly outperforms time-series foundation models, achieving state-of-the-art results on Kalshi data and demonstrating competitive performance on Polymarket data, while offering interpretable insights into the underlying mechanisms of social belief dynamics.

Haofei Yu, Yining Zhao, Guanyu Lin +1

University of Illinois Urbana-Champaign · Carnegie Mellon University

Large Language Model Forecasting Behavioral Foundation Models World Models

Jun 9, 2026cs.AI

Forecasting Future Behavior as a Learning Task

Trust in an AI system is often anchored by explanations of how it works, which one then uses to forecast its behavior on new inputs. For large reasoning models (LRMs), this conventional route is particularly difficult to follow: explanation methods for single token generations do not naturally generalize to long trajectories, and the trajectories themselves are often not faithful when read as natural language. We propose an alternative that bypasses the explanation step: treat behavior forecasting as a learnable task and train Behavior Forecasters that operates on a single reasoning trajectory to make the same forecasts one would typically seek from an explanation. The forecaster's training data is obtained by querying the LRM with no human annotation, and its inference is done in a single forward pass. We instantiate this approach on two tasks: how likely the LRM is to repeat its answer on re-runs, and how removing parts of the input changes its answer. We evaluate this approach on both tasks across three diverse reasoning datasets and find that trained Behavior Forecasters are more accurate than GPT-5.4 and Claude Opus-4.6 reading the same trajectories as naive readers, at a small fraction of their inference cost. We find that fine-tuning the backbone end-to-end and initializing it from the target LRM are each necessary for strong performance. These results show that the reasoning trajectory carries information about the LRM's future behavior that goes beyond what naive reading conveys.

Mosh Levy, Yoav Goldberg, Asa Cooper Stickland

Bar-Ilan University · Constellation · UK AI Security Institute +1

Large Language Model Forecasting Reasoning Trajectory Large Reasoning Models Forecast Agent Behavior Modeling Explainable AI Methods+1

Jun 4, 2026cs.LG

Design a Reliable LLM-Integrated Interface for Mortality Forecasting

Mortality forecasting plays an important role in actuarial and policy decision-making, but its implementation remains technically complex and inaccessible to non-expert users. This project proposes a reliable large language model (LLM)-integrated interface that improves usability while maintaining statistical power. The LLM is designed as a constrained orchestration layer that translates natural-language inputs into structured configurations for a deterministic forecasting pipeline. A three-phase methodology is employed to ensure accuracy, usability, and transparency. First, a baseline pipeline is implemented using the CoMoMo package, reproducing established mortality forecasting results. Second, the pipeline is extended to generate multi-step forecasts using rolling-origin evaluation and mean squared error (MSE). Third, a prototype interface uses a local LLM to handle users' forecasting requests in plain language. The system demonstrates that LLMs can enhance accessibility without compromising reproducibility, transparency, or actuarial validity in high-stakes analytical workflows.

Thi Kim Ngan Nguyen

Curtin University

Intensive Care Unit Mortality Prediction Large Language Model Forecasting Actuarial Ratemaking Data-Driven Forecasting Large Language Models(Llms Reliable

Jun 2, 2026cs.AI

From Long News to Accurate Forecast: Importance-Aware Fusion and PRM-Guided Reflection for Time Series Forecasting

Incorporating news into time series forecasting is appealing because news can reveal abrupt exogenous events that historical values alone cannot recover. However, existing LLM-based news-forecasting pipelines face two practical limitations: relevant news articles often exceed the model's context window, and iterative retrieval of supplementary news is typically unguided, leading to redundant updates and slow convergence. We address these issues with a novel framework that combines importance-aware news compression and process-level retrieval supervision. First, we train an importance reward model that estimates the forecasting utility of each article and uses this signal to allocate compression budgets during sequential pairwise fusion, preserving informative content within a fixed context limit. Second, we introduce a process reward model (PRM) that ranks multiple supplementary-news candidates conditioned on the current error profile and the history of previously selected articles, replacing one-shot blind retrieval with quality-controlled selection. Both components are trained offline using historical data with ground truth; inference uses the frozen filtering logic and compression modules without any reflection loop. Experiments on finance, energy, traffic, and bitcoin forecasting benchmarks show that our method improves prediction accuracy over strong baselines, significantly reduces the number of refinement iterations compared to the iterative baseline, and remains effective when relevant articles span thousands of tokens.

Mingyang Liu, Qingcan Kang, Yuke Wang +6

Department of Computer Science, City University of Hong Kong · Work done as an intern in Huawei Noah’s Ark Lab. · Huawei Noah’s Ark Lab

Large Language Model Forecasting Time Series Forecasting Headlines Task-Aware Compression Finance Benchmarks Process-Level Supervision+2

May 26, 2026cs.LG

Aligning LLMs with Human Uncertainty: A Beta-Bernoulli Calibrator for LLM Forecasting

Probabilistic forecasting estimates the likelihood of uncertain future events. To improve LLM forecasting, existing methods typically learn from binary outcomes to output verbalized forecasts. However, while aggregated human forecasts contain rich information in both the crowd probability estimate and the degree of agreement among forecasters, how to utilize these signals remains underexplored. To address this, we propose the Beta-Bernoulli Calibrator (BBC), which converts an initial point estimate forecast from any model into a distribution over event likelihood, using supervision from both binary outcomes and human forecasts. BBC models event likelihood

p \sim \text{Beta}(α, β)

and outcome

y \sim \text{Bernoulli}(p)

, with the mean as the calibrated point forecast and the variance as the epistemic uncertainty. Our results show that BBC generally provides better calibrated and more accurate forecasts than both traditional post-hoc calibration methods and models fine-tuned specifically for forecasting, while remaining lightweight and having good generalization. We also show that the epistemic uncertainty captured by BBC is a more reliable predictor of forecasting error than verbalized confidence.

Hui Dai, Ryan Teehan, Parsa Torabian +1

Agentic Learning AI Lab, New York University · Chronologies AI

Large Language Model Forecasting Probabilistic Forecasting Large Language Model Uncertainty Probability Large Language Model Alignment Human Agency

May 21, 2026cs.AI

Is Capability a Liability? More Capable Language Models Make Worse Forecasts When It Matters Most

We document inverse scaling in LLMs on forecasting problems whose underlying time series exhibit superlinear growth and tail risk of regime change, a structure common in finance and epidemiology. On these tasks, more capable models produce worse distributional forecasts. The pattern appears on ForecastBench-Sim (FBSim), a contamination-free, simulated-world benchmark we release, in forecasting synthetic SIR epidemics with a matched linear control, and replicates in real-world datasets on COVID-19, measles, housing markets, and hyperinflation. A per-quantile decomposition shows the failure concentrates at the upper tail, which more capable models shift upward to track aggressive extrapolations of growth, while the lower tail stays put. A within-family study of Llama-3.1 shows that both model scale and post-training independently contribute to this effect. Domain knowledge does not reliably rescue calibration. This inverse scaling does not appear on single-threshold metrics common in LLM forecasting benchmarks, reversing the sign of the capability--accuracy relationship on identical outputs. Single-threshold scoring at conventional cutoffs misses the upper-tail cost; tail-inclusive scoring reverses the sign of the capability--accuracy relationship on the same outputs. We recommend that LLM forecasting evaluations use continuous (and unbounded) measures of accuracy alongside bounded binary threshold metrics.

Nick Merrill, Jaeho Lee, Ezra Karger

Forecasting Research Institute · UC Berkeley

Large Language Model Forecasting Frontier Models Epidemiological Models Inverse Design

May 18, 2026cs.LG

HydroAgent: Closing the Gap Between Frontier LLMs and Human Experts in Hydrologic Model Calibration via Simulator-Grounded RL

Calibrating distributed hydrologic models is a critical bottleneck across operational water resources management - streamflow prediction, reservoir operation, drought monitoring, infrastructure design, and flood forecasting all depend on it. Each basin demands an expert to translate hydrograph signatures into adjustments of a high-dimensional parameter vector, and the resulting workflow does not transfer between watersheds. We ask: can frontier large language model (LLM) agents replace the human hydrologic modeler, and if not, what would it take? We benchmark nine frontier LLM agents - Claude Opus 4.6/4.7, Sonnet 4.6, GPT-5/5.4/5.4-pro, and Gemini 2.5-pro/3.1-pro/3-flash - on the operational CREST distributed hydrologic model used by the U.S. National Weather Service for flash-flood forecasting. Best-of-twenty-rounds Nash-Sutcliffe Efficiency (NSE) across four held-out gauges spanning 329-40,792 km2 ranges from -0.16 (GPT-5.4) to 0.75 (Sonnet 4.6); the ceiling reproduces across all three vendors and capability tiers, with the strongest models concentrating in the 0.65-0.75 band, and no model reaches the human-expert reference except Opus-4.7 on one gauge. We argue this gap is not a parameter-count problem but a domain-grounding problem. We then propose HYDROAGENT, fine-tuning open-weight Qwen3-4B with supervised fine-tuning on 2,576 expert calibration trajectories and Group-Relative Policy Optimization using NSE as a verifiable reward from online CREST simulations - reinforcement learning with simulation feedback (RLSF). For Earth system science, a small domain-tuned policy with simulator-in-the-loop RL is a more compute-efficient and physically faithful path than scaling generic frontier models, and the multi-modal richness of Earth data - remote sensing, in-situ time series, and forecaster narrative - makes domain agents a leveraged direction for AI in physical science.

Zhi Li, Songkun Yan, Jie Cao +4

Civil, Environmental, and Architectural Engineering, University of Colorado Boulder · Civil Engineering and Environmental Sciences, University of Oklahoma · Department of Computer Science, University of Oklahoma +3

Probabilistic Basin-Scale Runoff Lstms Frontier Large Language Model Agents Frontier Models Large Language Model Forecasting

May 15, 2026physics.ao-ph

SwAIther-Precip: Lead-Time-Aware Bias Correction Enables Kilometer-Scale Downscaling of Global AI Precipitation Forecasts over Switzerland

Skillful medium-range precipitation forecasting at kilometer scale remains challenging over complex terrain because precipitation arises from multiscale nonlinear processes that global models cannot explicitly resolve at affordable cost. Global AI weather models can produce skillful medium-range forecasts, but their native 0.25 degrees resolution limits direct use for local hazard applications. Statistical downscaling can help bridge this gap, yet existing approaches often struggle with state-dependent, and especially lead-time-dependent, biases in global forecasts. We introduce SwAIther-Precip, a lead-time-aware downscaling framework that converts coarse-resolution AIFS forecasts into probabilistic km-scale precipitation fields over Switzerland. First, a U-Net conditioned on lead time via feature-wise linear modulation deterministically corrects systematic biases at coarse resolution. This targeted correction enables a cheaper super-resolution stage conditioned only on corrected precipitation, allowing direct training on observations rather than on the full atmospheric state. A diffusion-based model then generates fine-scale spatial variability independently of lead time. Using AIFS forecasts and CombiPrecip radar-gauge observations, SwAIther-Precip reduces CRPS by 48% relative to raw AIFS. The generated fields reproduce observed spatial variability with spectral fidelity above 0.85 at large scales and 0.88 at small scales, corresponding to an effective resolution of approximately 4 km on a 1 km grid for lead times up to 5 days. Training across lead times further improves long-range performance, yielding a 13% CRPS reduction at 6 days relative to lead-time-specific models. These results show that explicitly correcting lead-time-dependent biases before generative super-resolution is key to efficient km-scale probabilistic downscaling of global AI precipitation forecasts.

Dan Assouline, Erwan Koch, Federico Amato +5

Swiss Data Science Center, ETH, Zürich, Switzerland · Expertise Center for Climate Extremes, University of Lausanne, Lausanne, Switzerland · Faculty of Geosciences and Environment, University of Lausanne, Lausanne, Switzerland +1

Dynamical Downscaling Artificial Intelligence Weather Models Large Language Model Forecasting German

May 13, 2026q-bio.NC

Implicit Behavioral Decoding from Next-Step Spike Forecasts at Population Scale

Closed-loop brain-computer interfaces often require both a forecast of upcoming neural population activity and a readout of the animal's behavioral state. A single Mamba forecaster, trained only on next-step spike counts at Neuropixels scale, can deliver both in one forward pass. A lightweight per-session linear head reading the model's predicted rates decodes behavior better than the same linear classifier reading the raw spike counts, under matched temporal context. We test on the Steinmetz visual-discrimination benchmark, which spans 39 sessions, roughly 27,000 neurons, and 1,994 held-out trials. Across three training seeds, Mamba's predicted rates decode mouse choice at 75.7

\pm

0.2% trial vote, roughly 2.3 times chance level, and stimulus side at 66.1

\pm

0.6%, about twice chance. Compared to a matched 500 ms-context linear decoder on the raw spike counts, Mamba wins at trial vote by 4-6 pp on response and 4-6 pp on stimulus side. A session-start calibration block of about 100-150 trials brings the readout within 1-2 pp of asymptote, and the full pipeline fits inside the 50 ms bin budget on workstation-class GPUs typical of tethered chronic Neuropixels recordings.

John R. Minnick, Jesus Gonzalez-Ferrer, Kamran Hussain +6

Department of Electrical and Computer Engineering, University of California, Santa Cruz, CA, USA · UC Santa Cruz Genomics Institute, University of California, Santa Cruz, CA, USA · Department of Biomolecular Engineering, University of California, Santa Cruz, CA, USA +2

Neural Recordings Time-To-First-Spike Large Language Model Forecasting Populations

May 9, 2026cs.LG

LEAF: A Living Benchmark for Event-Augmented Forecasting

Large Language Models (LLMs) are increasingly applied to forecasting. To evaluate this capability while mitigating pre-training data contamination, several living benchmarks have been proposed. However, existing benchmarks either lack the multidimensional events essential for accurate forecasting due to data scarcity, or focus on relatively closed environments. To assess the predictive capabilities of LLMs in complex, real-world scenarios, we propose LEAF, the first living benchmark for event-augmented forecasting tasks, including future event probabilities, trend and time series forecasting. LEAF utilizes a recursive retrieval agent system paired with dual-agent cross-validation to provide comprehensive and relevant auxiliary text for forecasting. Evaluating state-of-the-art proprietary and open-weight LLMs, we find that these models can leverage signals extracted from complex events to enhance predictive performance. In the stock domain, we find that LLMs achieve better performance on equities they confidently identify as more predictable. Furthermore, the events demonstrate a strong correlation with the target equities. To this end, LEAF provides a necessary, dynamically updating testbed to continuously track and drive progress in event-driven forecasting tasks.

Mingtian Tan, Mihir Parmar, Palash Goyal +5

Google · University of Virginia

Large Language Model Forecasting Retrieval-Augmented Forecasting

May 6, 2026cs.CL

Anticipating Innovation Using Large Language Models

Forecasting innovation, intended as the emergence of new technological combinations, is a fundamental challenge for science and policy. We show that forthcoming combinations leave an early trace in the collective language of patents, with predictive signals detectable even decades in advance. We show that signal is not attributable to any single inventor, but emerges as a collective shift in how technologies are described across thousands of patents. To this end, we introduce TechToken, a transformer-based model that treats technologies, classified by International Patent Classification codes, as words in its vocabulary, learning the language of technologies by embedding these codes during fine-tuning. We define context similarity between code embeddings as a measure of linguistic convergence and show that it accurately predicts first technological combinations. TechToken also improves general representation quality, outperforming state-of-the-art models across different patent-related tasks.

Enrico Maria Fenoaltea, Filippo Santoro, Giordano De Marzo +2

Institute of Complex Systems (UBICS), Universitat de Barcelona · Centro Ricerche Enrico Fermi (CREF), Via Panisperna 89 A – 00184 Roma · University of Konstanz +1

Technology Large Language Model Forecasting Next-Token Prediction Anticipate Transformer Architectures International Classification Of Disease Coding

May 5, 2026cs.AI

OracleProto: A Reproducible Framework for Benchmarking LLM Native Forecasting via Knowledge Cutoff and Temporal Masking

Large language models are moving from static text generators toward real-world decision-support systems, where forecasting is a composite capability that links information gathering, evidence integration, situational judgment, and action-oriented decision making. This capability is in broad demand across finance, policy, industry, and scientific research, yet its evaluation remains difficult: live benchmarks evaluate forecasts before answers exist, making them the cleanest way to measure forecasting ability, but they expire once events resolve; retrospective benchmarks are reproducible, but they cannot reliably distinguish genuine forecasting from facts a model may have already learned during pretraining. Prompting models to "pretend not to know" cannot replace a genuine knowledge boundary. We propose OracleProto, a reproducible framework for evaluating LLM native forecasting capability. OracleProto reconstructs resolved events into time-bounded forecasting samples by combining model-cutoff-aligned sample admission, tool-level temporal masking, content-level leakage detection, discrete answer normalization, and hierarchical scoring. Instantiated on a FutureX-Past-derived dataset with six contemporary LLMs, OracleProto distinguishes forecasting quality, sampling stability, and cost efficiency under controlled information boundaries, while reducing residual leakage to the

1\%

level, an order of magnitude below tool-only temporal filtering. OracleProto turns LLM forecasting from one-off evaluation into an auditable, reusable, and trainable dataset-level capability, providing a unified interface for fair cross-model comparison and a controlled signal source for downstream SFT and RL. Code and data are available at https://github.com/MaYiding/OracleProto and https://huggingface.co/datasets/MaYiding/OracleProto.

Yiding Ma, Chengyun Ruan, Kaibo Huang +2

Beijing University of Posts and Telecommunications

Large Language Model Forecasting Data-Driven Forecasting

May 3, 2026q-fin.PR

PHBench: A Benchmark for Predicting Startup Series A Funding from Product Hunt Launch Signals

Structured launch signals on Product Hunt contain statistically significant predictive information for Series A funding outcomes. We construct PHBench from 67,292 featured Product Hunt posts spanning 2019-2025, linked to Crunchbase funding records via deterministic domain matching, identifying 528 verified Series A raises within 18 months of launch (positive rate: 0.78%). Our best-performing model, a three-component ensemble (ENS_avg, ENS_ISO, XGB) selected by validation F0.5, achieves F0.5 = 0.097 and AP = 0.037 (95% CI: 0.024-0.072; 4.7x lift over random) on the private held-out test set (103 positives). A paired bootstrap confirms a statistically credible advantage over the logistic regression baseline (AP delta: +0.013, 95% CI: [0.004, 0.039], p < 0.001; F0.5 delta: +0.056, 95% CI: [0.006, 0.122], p = 0.016). Validation-set metrics (F0.5 = 0.284, AP = 0.126) reflect best-of-144 selection bias on 53 positives and are reported for benchmark reproducibility only. We further evaluate three zero-shot Gemini models (Gemini 2.5 Flash, Gemini 3 Flash, and Gemini 3.1 Pro) in an anonymized numerical setting. The best LLM achieves AP = 0.034 (Gemini 3 Flash), below the LR baseline AP of 0.044. Notably, the most capable Gemini variant (Gemini 3.1 Pro, AP = 0.023) performs worst -- an unexpected pattern that warrants further investigation across providers and prompting strategies. Both ML and LLM models show the same temporal performance decay tracking the 2020-2021 funding boom and subsequent contraction, confirming the dataset captures genuine market structure rather than noise. PHBench provides a reproducible framework comprising public training, validation, and blind test splits; 61 engineered features; a five-metric evaluation harness; and a public leaderboard at https://phbench.com. All code, baseline models, and anonymized dataset splits are publicly available.

Yagiz Ihlamur, Ben Griffin, Rick Chen

Amazon, Seattle, WA, USA · University of Oxford, Oxford, UK

Model Discovery Large Language Model Forecasting Logistic Regression

May 1, 2026cs.MA

Foresight Arena: An On-Chain Benchmark for Evaluating AI Forecasting Agents

Evaluating the true forecasting ability of AI agents requires environments that are resistant to environments resistant to overfitting, free from centralized trust, and grounded in incentive-compatible scoring. Existing benchmarks either rely on static datasets vulnerable to training-data contamination, or measure trading PnL -- a metric conflating predictive accuracy with timing, sizing, and risk appetite. We introduce Foresight Arena, the first permissionless, on-chain benchmark for evaluating AI forecasting agents on real-world prediction markets. Agents submit probabilistic forecasts on binary Polymarket markets via a commit-reveal protocol enforced by Solidity smart contracts on Polygon PoS; outcomes are resolved trustlessly through the Gnosis Conditional Token Framework. Performance is measured by the Brier Score and a novel Alpha Score -- proper scoring rules that incentivize honest probability reporting and isolate predictive edge over market consensus. We provide a formal analysis: closed-form variance for per-market Alpha, the connection to Murphy's classical Brier decomposition, and a power analysis characterizing the number of rounds required to reliably distinguish agents of different skill levels. We show that detecting a true edge of

α^* = 0.02

at 80% power requires approximately 350 resolved binary predictions (50 rounds of 7 markets), while

α^* = 0.01

requires four times more. We complement these analytical results with a deterministic, seed-controlled simulation study calibrated to literature-reported Brier-score ranges, illustrating how Murphy decomposition distinguishes well-calibrated agents from market-tracking agents that fail through reduced resolution. Live results from the deployed benchmark will be reported in a future revision. All smart contracts and evaluation infrastructure are open-source.

Maksym Nechepurenko, Pavel Shuvalov

Director of Research, Devnull, Dubai, UAE · Chief Technology Officer, Devnull, Dubai, UAE

Large Language Model Forecasting Foresight

Apr 20, 2026cs.AI

Agentic Forecasting with Structured Linguistic Beliefs

We propose the Bayesian Linguistic Forecaster (BLF), which is a search-based ReAct style agent for (binary) forecasting that augments its context with a linguistic 'belief state', consisting of a probability estimate and a \emph{structured} natural-language evidence summary. (The belief update is 'Bayesian-inspired' rather than exact Bayesian inference, although we do include a comparison to a more explicit Bayesian approach using LLM-elicited likelihood surrogates.) On 400 historical ForecastBench question-date instances, BLF has the highest overall Brier Index among the compared external agents, and is the only compared method to significantly outperform a crowd+empirical-prior baseline in terms of overall performance. Our backtesting framework combines date-aware search tools, leakage auditing, and paired comparisons for variance control to provide a rigorous empirical framework for comparing agentic forecasting systems.

Kevin Murphy

Department of Computer Science University of British Columbia Vancouver, BC, Canada

Large Language Model Forecasting Data-Driven Forecasting Posterior Predictive Distribution Linguistics Summarization

Apr 17, 2026cs.LG

QuantSightBench: Evaluating LLM Quantitative Forecasting with Prediction Intervals

Forecasting has become a natural benchmark for reasoning under uncertainty. Yet existing evaluations of large language models remain limited to judgmental tasks in simple formats, such as binary or multiple-choice questions. In practice, however, forecasting spans a far broader scope. Across domains such as economics, public health, and social demographics, decisions hinge on numerical estimates over continuous quantities, a capability that current benchmarks do not capture. Evaluating such estimates requires a format that makes uncertainty explicit and testable. We propose prediction intervals as a natural and rigorous interface for this purpose. They demand scale awareness, internal consistency across confidence levels, and calibration over a continuum of outcomes, making them a more suitable evaluation format than point estimates for numerical forecasting. To assess this capability, we introduce a new benchmark QuantSightBench, and evaluate frontier models under multiple settings, assessing both empirical coverage and interval sharpness. Our results show that none of the 11 evaluated frontier and open-weight models achieves the 90% coverage target, with the top performers Gemini 3.1 Pro (79.1%), Grok 4 (76.4%), and GPT-5.4 (75.3%) all falling at least 10 percentage points short. Calibration degrades sharply at extreme magnitudes, revealing systematic overconfidence across all evaluated models.

Jeremy Qin, Maksym Andriushchenko

ELLIS Institute Tübingen · Max Planck Institute for Intelligent Systems · Tübingen AI Center

Large Language Model Forecasting Frontier Models Overconfidence

Dec 7, 2025cs.LG

A Fast and Effective Solution to the Problem of Look-ahead Bias in LLMs

Applying LLMs to predictive tasks in finance is challenging due to look-ahead bias resulting from their training on long time-series data. This precludes the backtests typically employed in finance since retraining frontier models from scratch with a specific knowledge cutoff is prohibitive. In this paper, we introduce a fast, effective, and low-cost alternative. Our method guides generation at inference time by adjusting the logits of a large base model using a pair of smaller, specialized models -- one fine-tuned on information to be forgotten and another on information to be retained. We demonstrate that our method effectively removes both verbatim and semantic knowledge, corrects biases, and outperforms prior methods.

Humzah Merchant, Bradford Levy

University of Chicago Chicago, IL 60637

Large Language Model Forecasting Lookahead Frontier Models Inference-Time Time Series

Date pendingcs.LG

How Proper Scoring Rules Shape LLM Forecasting

This paper evaluates how reward function choice shapes the performance and behavior of LLM forecasters. We compare five proper scoring rules as training objectives for binary forecasts of resolved real-world events. Although the rules share the same theoretical incentive for truthful probability reporting, the resulting models differ in calibration, probability use, and estimated profiles of bias, information, and noise, with smaller differences in aggregate accuracy and discrimination. The Brier-trained model has the lowest observed Brier score and highest AUC-ROC, while the log-trained model has the highest observed log score and lowest calibration error. Models with similar aggregate performance also reach that performance through different combinations of bias, information, and noise. Proper scoring rules therefore need not behave interchangeably as training objectives. Reward choice may shape not only how well an LLM forecasts, but how its forecasting errors are structured.

Benjamin Turtel, Paul Wilczewski, Kris Skotheim +2

Lightning Rod Labs · Technology and Operations Management, INSEAD, Fontainebleau, France · Wharton School and School of Arts & Sciences, University of Pennsylvania

Large Language Model Forecasting Forecast Incentives