Giannis Antetokounmpo of the Milwaukee Bucks announced Friday that he has joined prediction market Kalshi as a shareholder, becoming the first NBA player to invest directly in the company.
“The internet is full of opinions. Now I’ve decided to create my own,” the two-time NBA MVP said in a social media post. “Today I joined Kalshi as a shareholder. Now we are all in Kalshi.”
The announcement did not go down well on social media. On Reddit, for example, one user described it as a “literal conflict of interest,” another described Kalshi as a “cancer,” and another wondered “is this allowed?”
According to The Athletic, the NBA’s latest collective bargaining agreement allows players to advertise and own up to a 1% stake in sports betting companies as long as they do not promote league-related bets.
Kalshi said he would partner with Antetokounmpo on marketing and live events and would not be allowed to trade in NBA-related markets under the company’s strict terms of service that prohibit insider trading and market manipulation.
