Both would be KO'd and if neither player has a bench, then each player meets one win condition.
The next thing you do is look to see if one player has met a second win condition.
How many prizes are left?
If one player has drawn their last prize and the other hasn't, then that player wins by meeting two win conditions.
If each has met the same number of win conditions, then they play sudden death.
Each player shuffles their deck and sets up to play a game with one prize each.
First one to take a prize wins.