eBay has rejected a takeover proposal from GameStop, significantly impacting market sentiment regarding the potential acquisition. The decision, reportedly made by eBay's board, indicates resistance to the terms proposed by GameStop CEO Ryan Cohen, who was pursuing the acquisition as a strategic expansion for the gaming retailer. Following the rejection, prediction markets have adjusted, with the probability of a successful acquisition dropping to 15.5% from 22% in the past 24 hours. This shift reflects decreased confidence among market participants about the likelihood of GameStop acquiring eBay, highlighting the rejection as a major hurdle in the acquisition process.