PANews reported on March 11, citing Cointelegraph, that Michael Selig, Chairman of the U.S. Commodity Futures Trading Commission (CFTC), stated at the FIA GlobalPANews reported on March 11, citing Cointelegraph, that Michael Selig, Chairman of the U.S. Commodity Futures Trading Commission (CFTC), stated at the FIA Global
CFTC Chairman: Blockchain prediction markets can become "truth machines," and clear regulatory rules are coming soon.
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PANews reported on March 11, citing Cointelegraph, that Michael Selig, Chairman of the U.S. Commodity Futures Trading Commission (CFTC), stated at the FIA Global Clearing Markets Conference that he supports blockchain-based prediction markets, calling them a powerful tool for discovering truth and describing well-functioning markets as "truth machines." He pointed out that when participants bet money on future events, accountability, transparency, and information are generated. Highly liquid prediction markets often produce more reliable signals than traditional polls, citing the 2024 U.S. presidential election as an example. Selig stated that the CFTC plans to provide guidance on clearer rules for listing and trading event contracts.
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