Global Offensive is features Bomb Defusal, Hostage Rescue, and two new game modes called Arms Race and Demolition. These new modes are collectively referred to as "Arsenal mode" and are based on the popular gungame mod for Counter Strike and Counter Strike: Source. Unlike other game modes Arms Race is a deathmatch-based mode where each player is rewarded for each kill with a new weapon, with the first player to get a kill with every weapon in a predetermined set winning the game. Demolition is a round based mode that removes weapon and equipment purchasing, instead challenging players by giving a set of progressively weaker weapons for each kill.
Global Offensive adds new weapons and equipment not seen in previous installments, most notably the Molotov cocktail which temporarily covers a small area in fire, making it impossible to pass through without taking damage.
This is taken from its wiki page.
#8950100, By Inertia *Official* XBLA thread
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