From the back of the box:

It's the classic Magic 8 Ball with a twist!
The Magic 8 Ball now includes a ticking timer for a ridiculously unpredictable party game. Consult the Magic 8 Ball and race to the finish line by competing in over 70 wild, physical and mental challenges.
Complete the challenge and hand the Magic 8 Ball to the next player. Now it's their turn to do the same. Lose a challenge? Forfeit a token.
Mind-numbing hilarity that will have you rolling on the floor, literally.
But hold on to your tokens. The "Great Eight Potentate" in round two dictates the price players must pay to win back lost tokens.