They had bet what words would he mention during his call. At the end of the otherwise normal earnings call, Brian said:
And I just want to add here the words Bitcoin, Ethereum, Blockchain, Staking, and Web3 to make sure we get those in before the end of the call
These just happened to be the exact words that polymarket betters were betting on.
From a larger view lots of this unironically points back to George Soros "reflexivity thesis" of markets. Which is that market bets influence real world behavior, which influences market bets....etc.
There was also the case of Brian Armstrong's Earning Call (https://techcrunch.com/2025/11/01/coinbase-ceo-brian-armstrong-trolls-the-prediction-markets/)
They had bet what words would he mention during his call. At the end of the otherwise normal earnings call, Brian said:
These just happened to be the exact words that polymarket betters were betting on.
From a larger view lots of this unironically points back to George Soros "reflexivity thesis" of markets. Which is that market bets influence real world behavior, which influences market bets....etc.