Giannis Antetokounmpo of the Milwaukee Bucks announced on Friday that he has joined the prediction market Kalshi as a shareholder. This move makes him the first NBA player to invest directly in the company.
The two-time NBA MVP explained his decision in a social media post. He stated, “The internet is full of opinions. I decided it was time to make some of my own. Today, I’m joining Kalshi as a shareholder. We all on Kalshi now.”
The announcement has received a negative reaction on social media platforms. On one popular forum, for example, a user described the investment as “literally a conflict of interest.” Another user called Kalshi “cancerous,” while a different person questioned whether the move was even permitted.
According to reports, the NBA’s most recent collective bargaining agreement does permit players to advertise and hold stakes of up to one percent in sports betting companies. This is allowed provided they do not promote wagers related to league events.
Kalshi confirmed it will partner with Antetokounmpo on marketing and live events. The company also noted that, in line with its strict terms of service which ban insider trading and market manipulation, Antetokounmpo will be prohibited from trading on any markets related to the NBA.