There will be five weeks of free-for-all competition on Xbox Live, which will require players to complete at least 20 games a week on specific playlists. 6 finalists from each live event and 20 from the Xbox Live competition will then compete on Microsoft's home turf in Seattle, with the winner pocketing a cool 200 grand. Another $100,000 will be distributed among the remaining 7 finalists, with 2nd place receiving the lion's share at $75,000. All participants will be eligible for randomly drawn prizes, including Xbox 360 games and Avatar items.
Those interested in participating can register now at Halo Waypoint. Complete rules and regulations can be found here.