Green’s Dictionary of Slang

1. to surpass.

1923

H.C. Witwer Fighting Blood 179: But I got to say it with right hooks till I get a little bigger bank roll and a little better line on what I was born to panic the world at.

2. to amuse, to reduce to laughter.

1931		W.R. Burnett Silver Eagle 219: ‘He expects us to panic that bunch of drunks every time we go on. Half the time they can’t see’.
1945		W.R. Burnett Tomorrow’s Another Day 122: Lonnie glanced at her, then burst out laughing. ‘You panic me with your remarks,’ he said.
1962		W.R. Burnett Widow Barony 34: He was [...] the mildest of the three, and very likeable, with a big grin, and a form of humour that panicked them.