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There are no "verified" badges on here. If you see someone using a symbol like :verified: it's just a custom emoji that means absolutely nothing.

However, there are still ways you can verify your identity on here. For example we know that the European Commission's official account is @EU_Commission

Here's an article going through how to verify your account on Mastodon and the Fediverse:

https://fedi.tips/how-to-use-mastodon-and-the-fediverse-advanced-tips/#HowDoIVerifyMyAccount

There's no charge on here for verifying, and anyone can do it.