I've seen the two episodes of this aired so far. There are three trivia "experts" on each show. Ken Jennings was on both shows aired so far. There are three contestants and three rounds on each show. Each expert goes head-to-head with the contestants for one round. Questions are worth $50, $100 and $200 in the rounds, respectively. Anytime a contestant is right and an expert is wrong, the contestant gets double the money.
Winning contestant gets $1,000 and a chance to play the bonus game with one of the experts. They're both asked the same five questions. If a contestant gets more answers right than the expert, they win $10,000 and get to come back on the next show. Any contestant who wins three bonus games gets to come back on the show as a trivia expert. Besides Jennings, one of the experts on one show was Raj, who took on and defeated The Beast all by himself on "The Chase."
All questions are multiple choice. Sherri is a decent host. As of now, GSN is airing this only at 4 pm ET. They will most likely air it more often in the future.