Snoop Dogg’s Shocking Announcement
Stoners across the globe were surprised to hear that Snoop Dogg, an iconic figure in the world of marijuana, has declared that he is giving up weed. The DeFi market, however, is uncertain if Snoop will stick to this public statement and permanently quit smoking. As a result, some individuals are now betting cryptocurrency on whether Snoop will smoke again in 2023.
A prediction market called Polymarket opened a bet just minutes after Snoop’s declaration. Currently, the bet is asking people to wager on whether the entertainer will smoke again in 2023. While the bet hasn’t received much action yet, there is a growing stack of limit orders lined up, indicating some interest in the topic.
The odds on the bet currently sit at even money, but earlier today, betting activity caused the odds of “Yes” to go up to 73%. This means that there was substantial interest in a bet that Snoop would keep his word and refrain from smoking.
What Does “Giving Up Smoke” Really Mean?
When Snoop announced that he’s giving up smoke, it raises questions about what exactly he meant. Is he swearing off all weed products or just those that involve inhaling fumes? These questions also apply to the overseers of the Polymarket bet, as it only asks whether Snoop will “smoke” before New Year’s.
UMA, a DeFi oracle network, is tasked with resolving the Snoopgate bet using statements from Snoop Dogg and/or a consensus of credible reporting. However, if Snoop smokes in secret or stops going outside, it could pose a challenge for oracle networks’ ability to bridge smart contracts to the real world.
Hot Take: Will Snoop Keep His Word?
Snoop Dogg’s announcement about giving up weed has sparked speculation and even led to bets being placed on whether he will smoke again in 2023. The DeFi market is abuzz with uncertainty about whether Snoop will stand by his public statement or not. It remains to be seen how this situation will unfold and how it will impact the world of cryptocurrency betting.
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