A major global IT outage caused by an update from security software provider CrowdStrike is expected to be resolved by Friday night U.S. eastern time, according to Polymarket bettors. CrowdStrike software is crucial for protecting computers and networks from cyberattacks, and its current outage has affected banks, airlines, emergency services, and businesses worldwide. The Federal Aviation Administration even had to issue ground-stop orders for most major airlines due to this issue.
Bettors on Polymarket are quite optimistic, giving an 89% chance that the problem will be fixed by Friday night and a 70% chance of a resolution by Friday noon. Additionally, there is only a 9% likelihood, according to the market, that the outage was caused by a hack. Furthermore, there is an 81% chance that American Airlines will resume operations by Friday noon.
In response to the situation, CrowdStrike’s stock has taken a hit, dropping over 10% in pre-market trading on the NASDAQ. The company’s CEO has acknowledged the problem and assured users that the issue has been identified and isolated, with a fix on the way.
Interestingly, the incident has not had a significant impact on Bitcoin, as it continues to trade above $63,700, only experiencing a 1.7% decrease, according to CoinDesk Indices data. Meanwhile, meme coin traders are finding humor in the situation, creating CrowdStrike and Windows Blue Screen of Death meme coins on Solana.
Overall, the CrowdStrike outage has caused widespread disruption, but the company is working diligently to address the issue and restore normal operations as soon as possible. With the support of bettors and the reassurance from CrowdStrike’s CEO, there is hope that the outage will be resolved by the predicted timeline.