Traders are doubtful Cohen’s GameStop can pull off monster eBay acquisition

Prediction markets traders aren’t confident in GameStop’s ability to take over eBay, according to contracts launched on Monday. 

Traders on Kalshi give GameStop just a 26% chance to pull off the acquisition in 2026, though total trading volume on the new contract was low at just over $2,000. 

GameStop announced on Sunday that it was making a play to acquire the online marketplace in a cash-and-stock deal that valued the company at $55.5 billion. That valuation raised questions about how GameStop could finance its proposal. The video game retailer has a market cap of just under $11.9 billion.

In an appearance on CNBC’s “Squawk Box,” GameStop CEO Ryan Cohen didn’t disclose exactly how he planned on financing the deal, instead reiterating the makeup of the transaction.

“We are offering half cash, half stock, and we have the ability to issue stock in order to get the deal done. But the full details of the offer are on our website,” Cohen said. “We will see what happens.”

Shares of GameStop fell nearly 8% on Monday in reaction to the proposal, while eBay jumped more than 5.5%. 

On Polymarket, traders were even less optimistic. Traders on that platform gave GameStop just a 15% chance at completing the takeover. 

— CNBC’s Yun Li contributed reporting

Disclosure: CNBC and Kalshi have a commercial relationship that includes a CNBC minority investment.

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