A major global IT outage caused by an update from security software provider CrowdStrike will very likely be resolved by Friday night U.S. eastern time, if not earlier, Polymarket bettors say.
CrowdStrike is software that protects computers and networks from cyberattacks. Banks, airlines, emergency services, and businesses worldwide have been impacted by the outage, with the Federal Aviation Administration issuing ground-stop orders for most major airlines.
Bettors say there's an 89% chance that this issue will be resolved by Friday night and a 70% chance it will be fixed by Friday noon.
(Polymarket)Bettors are also unconvinced about the possibility of the outage being caused by a hack, with the market giving that a 9% chance of it being the case.
There's also an 81% chance that American Airlines will resume operations by Friday noon.
Crowdstrike's stock is down over 10% in pre-market trading on the NASDAQ.
The company's CEO said in a update posted at 5:45 PM Hong Kong Time (Friday morning U.S. time) that the issue had been identified and isolated, with a fix being rolled out soon.
Bitcoin seems relatively unaffected by the incident, as it's trading above $63,700, down 1.7% according to CoinDesk Indices data.
Meme coin traders are having fun with the episode, with a number of CrowdStrike and Windows Blue Screen of Death meme coins popping up on Solana.
Edited by Parikshit Mishra.