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

Prediction Market Regulation & Policy

2026-03-11 02:24:49

Gate News reports that on March 11, Michael Selig, Chairman of the U.S. Commodity Futures Trading Commission (CFTC), stated at the FIA Global Clearing Market Conference that he supports blockchain-based prediction markets, calling them powerful tools for uncovering truth and describing well-functioning markets as "truth machines." He pointed out that when participants bet on future events with funds, it can generate accountability, transparency, and information. Selig emphasized that high-liquidity prediction markets often produce more reliable signals than traditional polls, using the 2024 U.S. presidential election as an example. Additionally, Selig mentioned that the CFTC plans to provide guidance on clearer listing and trading rules for event contracts.

Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.

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