Snoop Dogg Swears Off Weed, Crypto Gamblers Call His Bluff

Snoop Dogg, the revered high priest of herb, has declared his intention to quit smoking marijuana.

What Happened: The hip-hop mogul and long-time advocate for cannabis culture said, “After much consideration and conversation with my family, I've decided to give up smoke.” 

Polymarket, a platform for betting on crypto predictions, introduced a wager post-announcement. Crypto users are now speculating if Snoop will indulge in smoking within the year 2023. As of now, the bet has garnered a number of limit orders.

Initially, wagers oscillated, at one point giving a 73% chance to “Yes”, implying that bettors believed Snoop Dogg was more likely to not maintain his abstinence. The bet will conclude on New Year’s Eve.

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The Complex Debate Over Snoop’s Statement: However, the situation is far from straightforward. Snoop’s commitment raises a cascade of philosophical and technical inquiries.

What did the rapper mean by “smoke”? Does his commitment only apply to traditional smoking methods, or does it extend to all products derived from cannabis, including non-inhalation forms like edibles, tinctures, or topicals? Moreover, the definition of “smoking” becomes murkier when considering vaporizers, invoking the fine distinction between combustion and vaporization.

The terms of the wager are subject to interpretation by the DeFi oracle network UMA, as stated: "The resolution source for this market will be statements from Snoop Dogg and/or a consensus of credible reporting."

Price Action: At the time of writing, Bitcoin BTC/USD was trading at $36,407 down 2.33% in the last 24 hours, according to Benzinga Pro.

Photo Courtesy: Sterling Munksgard On Shutterstock.com

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