Michael Selig, chairman of the U.S. Commodity Futures Trading Commission (CFTC), stated that blockchain-based prediction markets can improve price discovery and transparency of public information, potentially becoming powerful "truth machines." When participants use capital to back their judgments about future events, accountability, transparency, and informational value are generated. Highly liquid prediction markets often provide more reliable signals than traditional polls, citing the 2024 U.S. presidential election as an example, noting that market pricing accurately reflected the election results. It is understood that the CFTC is about to issue 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. (Cointelegraph)