CFTC Chair Backs Blockchain-Powered Prediction Markets Despite Pushback

CFTC Signals Support for Blockchain Prediction Markets as ‘Truth Machines’

The CFTC Chair, Michael Selig, has been quoted as being in favor of blockchain technology-based prediction markets, which he referred to as “truth machines” with the ability to generate significant insights on the future. During the FIA Global Cleared Markets Conference held in Florida, the CFTC Chair, Michael Selig, said that prediction markets, which enable individuals to bet on their predictions, could be relied on to generate accurate inform…

CFTC Chair Backs Blockchain-Powered Prediction Markets Despite Pushback

CFTC Chair Michael Selig says blockchain-based prediction markets could act as “truth machines” for forecasting events, while states pursue legal challenges against these platforms.