Improved Standard-Model prediction for $\pi^0\to e^+e^-$.

We present an improved Standard-Model (SM) prediction for the dilepton decay of the neutral pion. The loop amplitude is determined by the pion transition form factor for $\pi^0\to\gamma^*\gamma^*$, for which we employ a dispersive representation that incorporates both space-like and time-like data as well as short-distance constraints. The resulting SM branching fraction, $ \text{BR}(\pi^0\to e^+e^-)=6.25(3)\times 10^{-8}$ , sharpens constraints on physics beyond the SM, including pseudoscalar and axial-vector mediators.