This makes the assumption that the overall stakes are even. What if Alex Jones puts up 100K that boiled frog eyes cure COVID? He could be absurdly wrong, but the additional credibility offered by this may let him sell a million dollars more of boiled frog eyes.
The problem is, there is going to be virtually no research on whether boiled frog eyes are a cure for covid, so it is next to impossible to challenge the claim and made all the more difficult by the potential for human error and the risk involved noted in the challenge.