Kalshi Event Contracts: A Bet on News, Not Underlying Value?

I've been looking at some of the Kalshi contracts, particularly around economic data releases or political events. My growing suspicion is that they're less about genuinely predicting an outcome based on deep analysis, and more about trading the immediate news reaction, much like a quick scalp on a headline. It feels like the price action in the contract itself often becomes the primary driver, rather than the fundamental probability of the event. Am I missing something in how I should be approaching these? Convince me otherwise.