The longstanding discrepancy between measurement and Standard Model prediction for the anomalous magnetic moment of the muon will soon be scrutinized with the release of Run-1 data from the E989 Fermilab g-2 experiment.  To be able to fully profit from the gains in experimental sensitivity, we need a Standard Model prediction with comparable uncertainties, which presents a challenge to theory mainly due to hadronic corrections.  In the talk, I will present the current status of the Standard Model prediction and discuss future prospects to meet the ultimate E989 precision goal.