Cryptographers Matthew Green and Filippo Valsorda have placed a public long bet — settling by charitable donation — on which will break first by December 31, 2040: ML-KEM-768 (a post-quantum lattice-based KEM standardized in FIPS 203) or X25519 (the elliptic-curve Diffie-Hellman function). Green is on the lattice cryptanalysis side, Valsorda on the quantum computers side. The bet includes a main wager ($5,000 donation), a secondary wager on whether ML-KEM-768 will fall below 128-bit security ($1,000), and a moral win clause around ML-KEM-512. The wager has detailed definitions of what constitutes a break, explicit exclusions (side channels, implementation bugs, etc.), named arbiters, and is open for others to join by submitting a PR.

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Table of contents
1. Definitions2. Main wager: which breaks first3. Secondary wager: material downgrade4. Moral win: ML-KEM-5125. Exclusions6. Arbiters and evidence7. Payment8. Miscellaneous

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