GME News & Events

"Odds On" is The Fly's weekly series diving into the most interesting bets on events trading platforms like Polymarket, Kalshi, and Robinhood. Subscribers, add $EBET to your Fly portfolios for alerts on news about events trading.BACKGROUND:GameStop'sproposed acquisition of eBaywas announced on May 3. GameStop, whose market value is far smaller than eBay's, offered about $55.5B in a half-cash, half-stock deal valuing eBay at $125 per share. The proposal was unsolicited and non-binding. The effort is being driven by GameStop CEO Ryan Cohen. Cohen argues that combining GameStop's retail footprint with eBay's online marketplace could create a stronger e-commerce and collectibles platform capable of competing more directly with Amazon. He specifically pointed to GameStop's stores as potential authentication, fulfillment, and live-commerce hubs for trading cards, gaming hardware, and other collectibles. As of now, eBay has acknowledged receiving the proposal but has not agreed to a deal. Cohen has suggested he could pursue a proxy fight and appeal directly to shareholders if eBay's board rejects the offer outright.THE BET:Kalshi offers "Will GameStop acquire eBay this year?" with a total volume of $331,119. Traders on Kalshi are pricing in a 21% chance of GameStop acquiring eBay this year. The "Yes" contract was last trading at 22c, while the "No" contract stood at 79c.Meanwhile, Polymarket has the market "Will GameStop acquire eBay?" with a total volume of $261,274. There is currently a 15% chance of GameStop acquiring eBay. The "Yes" contract was last trading at 15c, while the "No" contract stood at 86c.THE RULES:This market will resolve to "Yes" if it is officially announced that eBay will be, has been, or is being acquired by or merged with GameStop, by December 31, 11:59 PM ET, according to Polymarket. Otherwise, this market will resolve to "No". Mergers or acquisitions involving eBay or its parent company, eBay Inc., and GameStop or its parent company, will qualify. An announcement by eBay or GameStop within this market's timeframe will qualify for a "Yes" resolution, regardless of whether or when the announced acquisition/merger actually occurs. Announcements of partial sales may count, as long as GameStop acquires a controlling interest in eBay. A "controlling interest" refers to a change in ownership sufficient to control the company's strategic decisions. Transactions or investments that do not result in a transfer of controlling interest will not count. The primary resolution source for this market will be official information from eBay and GameStop; however, a consensus of credible reporting may also be used.

eBay's (EBAY) board will meet this week to review an unsolicited $56B bid from GameStop's (GME) Ryan Cohen, Semafor's Rohan Goswami reports, citing people familiar with the matter.

The major averages closed broadly lower amid conflicting headlines around a potential U.S.-Iran incident driving volatility. Iran's Navy said it blocked "American-Zionist" warships from entering the Strait, according to state TV reports, while a separate dispatch from Fars said that two missiles struck a U.S. warship near Jask island after it ignored warnings. Neither of these reports has been independently confirmed, though U.S. Central Command wrote in a post on X that "no U.S. Navy ships have been struck."Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:GameStophas submitted aeBayfor $125 per share in cash and stockAmerican Express Global Business Travelby Long Lake for $9.50 per shareNorwegian Cruise Linereportedand cut its FY26 earnings outlookAmazonannounced the launch ofCiscoannounced itsa company engaged in Non-Human Identity Security2. WALL STREET CALLS:OppenheimerAirbnbto Outperform as organic revenue levers materializeGlobalFoundriesto Overweight at Cantor FitzgeraldHSBCAMDto Hold on limited upside potentialAlphabetto Hold from Buy at Freedom BrokerPrudentialto Underweight at Morgan Stanley3. AROUND THE WEB:SoftBank-backedOpay Digital has been working with Citigroup, Deutsche Bank, and JPMorgan Chaseas the platform prepares for an IPO, Bloomberg reportsAs Asia further integrates into Nvidia'sAI business ecosystem, the list of Asian stocks benefitting from partnerships is getting longer, Bloomberg saysUnited Airlineshit a vehicle and light post on a nearby highway during its approach to Newark Liberty International Airport, Bloomberg reportsAnthropic is nearing a deal with Blackstone, Goldman Sachs, and other Wall Street firms to form a $1.5B joint venture that would market AI tools to private equity-backed companies, WSJ saysMetais facing a trial in New Mexico that could prompt a judge to order sweeping changes to how Facebook, Instagram, and WhatsApp operate, Reuters reports4. MOVERS:Blaizegained after signing awith WinmateAMC Entertainmentincreased after announcing it sawProPetro Holdingdeclined after announcing a proposedCogentwas lower after, with revenue missing consensusADT Inc.fell after announcing a5. EARNINGS/GUIDANCE:Tyson Foods, with EPS and revenue beating consensusRLJ Lodging Trust, with CEO Leslie Hale commenting, "We are pleased with our strong first quarter results"Berkshire Hathaway, with revenue higher year-over-yearL.B. Foster, with CEO John Kasel commenting, "We carried the favorable momentum generated at the end of 2025 into our first quarter"Twist Biosciencesand raised its guidance for FY26INDEXES:The Dow fell 557.37, or 1.13%, to 48,941.90, the Nasdaq lost 46.64, or 0.19%, to 25,067.80, and the S&P 500 declined 29.37, or 0.41%, to 7,200.75.