Benzinga - In a showdown that has captured the imagination of the internet, renowned tech moguls Mark Zuckerberg, the CEO of Meta, and Elon Musk, the influential figurehead of Tesla and Twitter, have ignited speculation over a potential Mixed Martial Arts (MMA) showdown.
What Happened: This unexpected turn of events has prompted crypto gamblers to engage in wagering, as they eagerly await the outcome of a clash between the billionaires.
Data from Polymarket, a blockchain-based betting platform currently lists the “Musk” shares at $0.51 each, while the “Zuck” shares are valued at $0.50.
Blockchain-based prediction markets offer a venue where users can place bets and have them settled through smart contracts using cryptocurrencies. These permissionless platforms enable gambling on a wide range of topics.
To participate on the platform, users are required to purchase USDC (CRYPTO: USDC) , a stablecoin that is pegged to the value of the U.S. dollar. These tokens serve as the primary currency for trading on Polymarket.
However, should the highly-anticipated fight fall into a draw, be canceled, or conclude without a clear victor, the market will resolve evenly at 50-50, leaving all bettors on an equal footing.
Additionally, if no fight is scheduled between the two opponents before August 31, 2023, 11:59:59 PM ET, the market will also resolve at 50-50.
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Why It Matters: On a financial front, those favoring Zuckerberg, betting $100 on his possible triumph, currently stand to receive a substantial $182 payout, translating to a 82% return on investment. Meanwhile, supporters of Musk’s hypothetical victory would secure a $178, offering a 78% return on their wagers.
In yet another Twitter exchange between the two, Musk took a shot at Zuckerberg by calling him a "Cu*k". The exchange started when a fan suggested that Zuckerberg should venture into space solely to irritate Musk, to which the META founder reacted with a laughing emoji.
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