U.S. CFTC Chair: Blockchain prediction markets could become "truth machines," with clear regulatory rules coming soon

Mars Finance News: Michael Selig, Chairman of the U.S. Commodity Futures Trading Commission (CFTC), stated that blockchain-based prediction markets can improve price discovery and public information transparency, with the potential to become a powerful “truth machine.” When participants support their judgments about future events with capital, it creates accountability, transparency, and informational value. High-liquidity prediction markets often provide more reliable signals than traditional polls, and using the 2024 U.S. presidential election as an example, market prices accurately reflected the election outcome. It is reported that the CFTC is about to introduce clearer rules to guide the listing and trading of event contracts within a regulatory framework, and has instructed staff to draft operational guidelines to ensure market compliance with existing derivatives laws.