--- title: GameStop's Ryan Cohen Turns Failed eBay Bid Into Prediction-Market Frenzy description: GameStop's failed bid to acquire eBay quickly spilled into prediction markets, where Ryan Cohen's comments helped move odds on Kalshi and Polymarket. canonical: https://time.com/partner-content/prediction-markets/gamestops-ebay-bid-failed-but-ryan-cohen-still-moved-markets/ author: Annie Nader article:opinion: false article:content_tier: free article:published_time: 2026-05-19T07:41:26.884Z article:modified_time: 2026-05-19T07:41:25.769Z article:section: Prediction Markets og:title: GameStop's Ryan Cohen Turns Failed eBay Bid Into Prediction-Market Frenzy og:description: GameStop's failed bid to acquire eBay quickly spilled into prediction markets, where Ryan Cohen's comments helped move odds on Kalshi and Polymarket. og:url: https://time.com/partner-content/prediction-markets/gamestops-ebay-bid-failed-but-ryan-cohen-still-moved-markets/ og:site_name: TIME og:image: https://static.time.com/v3/assets/bltea6093859af6183b/bltb2083826e95c634e/6a034407a1d260d4b5a37da6/GameStop_eBay.jpg?branch=production&width=1024&quality=75&auto=webp&crop=16:9 og:image:width: 1024 og:image:height: 576 og:image:alt: GameStop_eBay.jpg og:type: article twitter:card: summary_large_image twitter:title: GameStop's Ryan Cohen Turns Failed eBay Bid Into Prediction-Market Frenzy twitter:description: GameStop's failed bid to acquire eBay quickly spilled into prediction markets, where Ryan Cohen's comments helped move odds on Kalshi and Polymarket. twitter:image: https://static.time.com/v3/assets/bltea6093859af6183b/bltb2083826e95c634e/6a034407a1d260d4b5a37da6/GameStop_eBay.jpg?branch=production&width=1024&quality=75&auto=webp&crop=16:9 --- The information presented here is created independently from the TIME editorial staff.  * [Prediction Market](/partner-content/prediction-markets/) # GameStop's eBay Bid Failed, But Ryan Cohen Still Moved Markets > Sponsored content. 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It covers the reporting, scoops and conversations shaping AI and the decisions facing leaders. #### Where can I get reported AI news rather than commentary? In the Loop is TIME's AI newsletter, built on original reporting and access to the people building and governing AI. It publishes Tuesdays and Fridays and is free at time.com/newsletters. #### Who writes TIME's In the Loop? Harry Booth, a tech reporter at TIME, writes In the Loop. #### Is In the Loop free? Yes. In the Loop is free at time.com/newsletters. by [Annie Nader](https://time.com/author/annie-nader/) Prediction Markets Analyst May 19, 2026 7:41 AM UTC  GameStop proposes to buy eBay for approximately $56 billion in a cash-and-stock deal, with CEO Ryan Cohen stating he is prepared to take the bid directly to shareholders if eBay's board is unreceptive. GameStop proposes to buy eBay for approximately $56 billion in a cash-and-stock deal, with CEO Ryan Cohen stating he is prepared to take the bid directly to shareholders if eBay's board is unreceptive. Nikolas Kokovlis—Getty Images by [Annie Nader](https://time.com/author/annie-nader/) Prediction Markets Analyst May 19, 2026 7:41 AM UTC An unsolicited bid for a company worth roughly four times as much, scant financing details, spooked shareholders, and a swift rejection would typically trigger a crisis of confidence. For GameStop CEO Ryan Cohen, it seemed to barely register. On May 3, [GameStop proposed](https://www.nytimes.com/2026/05/04/business/gamestop-ebay-acquisition-offer.html) buying eBay for $56 billion in a cash-and-stock deal. Early this morning, eBay [rejected](https://www.nytimes.com/2026/05/12/business/ebay-gamestop-takeover.html) GameStop's bid, calling the proposal "neither credible nor attractive." What took place in the interim, though, was a lesson in how one executive's voice can influence trading decisions on prediction-market platforms. ## GameStop's eBay Bid Falls Short When Cohen announced GameStop's audacious ploy to take over eBay, Wall Street asked the obvious question: how does a company valued at roughly $10 billion plan to acquire one valued at roughly $48 billion? The next day, Cohen appeared on CNBC's _Squawk Box_ in a now-viral [interview](https://www.youtube.com/watch?v=Bmj2PaxX24E) with Andrew Ross Sorkin. When pressed for information on how GameStop would finance the $56 billion bid, Cohen was evasive: "It's on our website. It's half cash, half stock. But the details are on our website." The leather-jacket-wearing executive's curt answers and disaffected tone—reminiscent of a student who didn't complete the summer reading assignment—left Sorkin speechless, and slightly amused, throughout the segment. The fallout from the bizarre CNBC appearance was immediate: GameStop's [stock dropped](https://finance.yahoo.com/markets/stocks/articles/gamestop-stock-plummeting-ceos-bizarre-160259447.html) by more than 10%, and key investor Michael Burry revealed he had [sold his entire stake](https://www.businessinsider.com/why-big-short-michael-burry-sold-gamestop-ryan-cohen-ebay-2026-5) in the company. Cohen doubled down on his theatrics, announcing in an X post that he was selling stuff on eBay to pay for eBay. > [](https://twitter.com/ryancohen/status/2052077872135704802?s=10) The eBay auction fits a well-established pattern of Cohen's. The Chewy co-founder [bought a 13% stake](https://www.forbes.com/profile/ryan-cohen/) in GameStop in 2020 before joining the company's board in 2021, helping spark the [GameStop short squeeze](https://www.bloomberg.com/news/articles/2021-01-13/heavily-shorted-gamestop-soars-most-ever-as-day-traders-circle) in January of that year. The subreddit [r/WallStreetBets](https://www.reddit.com/r/wallstreetbets/), which gave rise to the meme-stock phenomenon and later inspired the film [_Dumb Money_](https://www.imdb.com/title/tt13957560/), dubbed Cohen the "[Meme King](https://www.cnbc.com/making-of-the-meme-king/)." Some retail investors treated Cohen with near-religious reverence, often sifting through his posts for hidden meaning and treating cryptic one-liners as market signals. The same cult following now has the Meme King wondering if he should turn his eBay auctioneer side hustle into a full-time gig: Cohen's 36 [eBay items](https://www.ebay.com/sch/i.html?%5Fdkr=1&iconV2Request=true&%5Fblrs=recall%5Ffiltering&%5Fssn=ryan%5F5050&%5Foac=1) have amassed more than $125K in bids. While he's auctioning a few items with legitimate value, such as signed Randy Johnson and Willie Mays baseball cards, the majority of the listings look straight out of a hoarder's closet. One user even placed a [$4,950 bid ](https://www.ebay.com/itm/336571088498?itmmeta=01KREXY9ZB04Y1X7TYZAM5CF3F&hash=item4e5d333e72:g:dKIAAeSwS1dp-2pD)on a plain GameStop hat. So, when Cohen announced plans to acquire eBay, his meme-stock faithful naturally bought in—this time on prediction markets. On May 4, the day after GameStop's proposal was announced, markets titled "Will GameStop acquire eBay this year?" opened on [Kalshi](https://kalshi.com/markets/kxacqannounceebay/will-gamestop-acquire-ebay/kxacqannounceebay-27jan01) and [Polymarket](https://polymarket.com/event/will-gamestop-acquire-ebay). The next morning, despite glaring acquisition obstacles, Kalshi's market was pricing the outcome with a 36.4% implied probability. The odds plummeted to as low as a 16.8% chance in the aftermath of that day's CNBC interview before settling back at 33.8% by night, with some speculating whether the Meme King's off-putting comments were yet another strategic move. Kalshi and Polymarket closed the eBay acquisition markets following today's rejected bid, but not before attracting more than $1.4 million in trading volume. It's another measure of Cohen's market-moving power. Even after Wall Street insiders dismissed the bid as implausible, traders were still willing to place real-money wagers behind GameStop's success. The deal never came close, but for one week, Cohen managed to do, to some, what he's become notorious for: making speculation look like conviction. --- ## Read more from Prediction Markets [READ MORE](https://time.com/partner-content/prediction-markets/) [Open article: Rybakina Has No. 1\. Sabalenka Wants No. 3.](https://time.com/partner-content/prediction-markets/rybakina-has-no-1-sabalenka-wants-no-3/)  ### Rybakina Has No. 1\. Sabalenka Wants No. 3. [READ MORE](https://time.com/partner-content/prediction-markets/rybakina-has-no-1-sabalenka-wants-no-3/) [Open article: The Emmy Awards Promise (Some) Suspense](https://time.com/partner-content/prediction-markets/the-emmy-awards-promise-some-suspense/)  ### The Emmy Awards Promise (Some) Suspense [READ MORE](https://time.com/partner-content/prediction-markets/the-emmy-awards-promise-some-suspense/) [Open article: The U.S. Open Wakes Up to Ben Shelton](https://time.com/partner-content/prediction-markets/the-us-open-wakes-up-to-ben-shelton/)  ### The U.S. Open Wakes Up to Ben Shelton [READ MORE](https://time.com/partner-content/prediction-markets/the-us-open-wakes-up-to-ben-shelton/) --- ```json [{"@context":"https://schema.org","@type":"NewsArticle","@id":"https://time.com/partner-content/prediction-markets/gamestops-ebay-bid-failed-but-ryan-cohen-still-moved-markets/","mainEntityOfPage":{"@type":"WebPage","@id":"https://time.com/partner-content/prediction-markets/gamestops-ebay-bid-failed-but-ryan-cohen-still-moved-markets/"},"headline":"GameStop's eBay Bid Failed, But Ryan Cohen Still Moved Markets","datePublished":"2026-05-19T07:41:26.884Z","dateModified":"2026-05-19T07:41:25.769Z","description":"GameStop's bid for eBay looked implausible from the start. 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