The 2010 World Chess Championship is currently being played out. The match is being played from April 24 to May 13, 2010 in Sofia, Bulgaria. It is a traditional one-on-one challenger vs champion match. The combatants are Challenger Veselin Topalov (2805, Bulgaria) and World Champion Viswanathan Anand (2787, India).
The World Championship is a twelve-game match, with a prize fund of 2 million euros.
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Interesting note: the Norwegian prodigy Magnus Carlsen (2813) very recently took up the FIDE No.1 World Ranking, displacing Topalov who had been No.1 for a while.