Originally a radio show, beginning in 1940. For the show's tenth anniversary in 1950 (the same year it began on TV), Ralph Edwards dared any town in the country to change its name to "Truth or Consequences". Hot Springs, New Mexico, took on the challenge, and is now and forever known as Truth or Consequences, New Mexico. The rural New Mexico town hosts a Fiesta every May to commemorate the event, Ralph Edwards kept attending the town's annual festival. He died in 2005.
The Federal Communications Commission approved commercial broadcasts beginning on 1 July 1941, after a few years of experimental broadcasts, and NBC's New York station was the first to make the changeover. A special episode was broadcast on 1 July 1941 on WNBT (now WNBC) in New York City. It was the first commercial show for NBC. A 10-second commercial was $9.
Ralph Edwards, who later hosted his pet project This Is Your Life, was the first host of this game show on NBC.
An earlier attempt at a British version was developed for ITV franchisee London Weekend Television, but stunts from the show (the "Consequences" part) was subsequently used for LWT's Game for a Laugh (1981).
The daytime version was initially cancelled on September 25, 1959. Following fan complaints, the show was brought back on October 26, 1959, replacing Tic Tac Dough (1956) in its timeslot due to the then-ongoing quiz show scandals.