The sun rises, we have to pay taxes, objects fall instead of rising, the Dutch team plays marijuana and Snoop Dogg smokes marijuana. Just some certainties about our round planet, or so we thought. Turns out Snoop Dogg has quit smoking weed!
A new bet on Polymarket offers crypto traders the chance to bet on whether legendary stoner Snoop Dogg will keep his word.
The Pope stops praying
Stoners around the world got the news yesterday: Snoop Dogg, patron saint of marijuana, says he’s officially quitting weed.
However, the DeFi market is unsure whether Snoop, rapper, actor and well-known crypto enthusiast, will stick to his public statement and actually hand over his papers for good. Some crypto nerds are banking on crypto to benefit from its constancy.
Will Snoop smoke weed again in 2023?
A bet on the crypto prediction market Polymarket, which opened just minutes after Snoop’s statement, asks bettors to bet on whether the artist will smoke marijuana again in 2023. At the time of writing, the value of the bet was not yet known, which will remain. active until midnight on New Year’s Eve.
Although the betting odds are currently the same, gambling activity today has increased the yes odds to 73% on two occasions. That means crazy people can make more money by betting “yes” and Snoop pulls another big stunt.
The source must be reliable
The DeFi UMA oracle network is tasked with keeping an eye on the details. So the fine print of the bet reads: “The source of resolution for this market will be statements from Snoop Dogg and/or consensus on credible reporting.”
But what if Snoop secretly smokes? What if he doesn’t come out anymore? If a joint is smoked in a mansion in Los Angeles and no one is there to smell it, is it really smoking?
Source: BtcDirect
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Barry Siefert is an accomplished journalist and author at The Nation View. He is known for his expertise in the field of cryptocurrency, and has written extensively on the topic. With a background in finance and economics, Barry has a deep understanding of the underlying technology and market forces that drive the crypto industry.
