Giannis Antetokounmpo of the Milwaukee Bucks announced Friday that he has joined prediction market Kalshi as a shareholder, making him the first NBA player to invest directly in the company.
“The internet is full of opinions. I decided it was time to make some of my own,” said the two-time NBA MVP in a social media post . “Today, I’m joining Kalshi as a shareholder. We all on Kalshi now.”
The announcement has not gone over well on social media. On Reddit , for example, one user described it as “literally a conflict of interest,” while another described Kalshi as “cancerous” and yet another wondered, “is this even allowed.”
According to The Athletic , the NBA’s recent collective bargaining agreement allows players to advertise and take stakes of up to 1% in sports betting companies, as long as they’re not promoting league-related wagers.
Kalshi said it will partner with Antetokounmpo on marketing and live events — and in accordance with the company’s “strict terms of service that ban insider trading and market manipulation,” he will not be allowed to trade on markets related to the NBA.
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