Simplify the following text for a Grade 7 native English-speaking person.
Original: The show pits contestants against each other to complete a series of stunts better and\/or quicker than all the other contestants , by doing this in the fastest time , for a grand prize of US$ 50,000 .
Simplified: The program has contestants compete against each other in a series of stunts . The person who finishes better and\/or quicker than all the other contestants gets a prize of US$ 50,000 .