Milwaukee Bucks forward Giannis Antetokounmpo has taken a stake in prediction market platform Kalshi, marking the first time an active NBA player has invested directly in the federally regulated event-based contract exchange.
Key points to remember:
- Giannis Antetokounmpo has become the first active NBA player to directly invest in prediction market platform Kalshi.
- Kalshi offers federally regulated “yes or no” event contracts in sports, politics and entertainment.
- The deal follows growing scrutiny of the blurred line between commercial markets and sports betting.
The two-time NBA MVP announced the partnership on Friday, saying he would join Kalshi as a shareholder and collaborate with the company on live events and marketing campaigns.
Kalshi confirmed the deal in a statement, adding that Antetokounmpo will not be allowed to trade in any NBA-related market due to internal rules prohibiting insider trading and manipulation.
Inside Kalshi’s ‘Yes or No’ Prediction Trading Markets
Kalshi operates a marketplace where users trade “yes or no” contracts tied to real-world outcomes.
The platform lists markets covering politics, entertainment and sports, allowing traders to take positions on events such as winners or championship results.
Earlier this week, the service even held a market on whether Antetokounmpo himself would be traded before the NBA deadline.
Although money changes hands, the platform is treated as a financial exchange rather than a bookmaker.
As a result, Kalshi is allowed to operate across the United States under federal supervision, avoiding the patchwork of national gambling regulations that apply to traditional betting operators.
The NBA’s collective bargaining agreement allows players to promote betting companies under certain conditions, provided they do not advertise bets on NBA, WNBA or G League games.
Players can also hold passive stakes of up to 1% in these companies. Antetokounmpo’s investment falls within these limits.
“I like to win. It’s clear to me that Kalshi is going to be a winner and I’m excited to be involved,” Antetokounmpo said.
He is not the first basketball personality linked to the company. Phoenix Suns star Kevin Durant is reportedly an indirect investor through the 35V venture capital fund he co-founded with agent Rich Kleiman.
This decision comes against a backdrop of increased surveillance of sports betting. U.S. authorities recently filed gambling-related charges involving several basketball figures, and regulators have examined the growing overlap between trading platforms and betting markets.
The NCAA previously asked Kalshi to change wording on his site suggesting an official relationship with the organization.
Kalshi expands sports campaign with NHL deal and athlete support
Despite the attention, Kalshi has expanded her sporting presence.
The company announced a partnership with the NHL in October, and in January signed professional golfer Bryson DeChambeau as its first athlete sponsor, including appearances and promotional campaigns tied to the events he participates in.
Kalshi also got a major media breakthrough after signing a partnership with CNN, making the company the official prediction markets partner of the network while closing a billion-dollar funding round at an $11 billion valuation.
Web3 prediction markets have surpassed $13 billion in cumulative trading volume, marking an all-time high even as broader crypto markets cool.
This rise has attracted major players in the technology and financial sectors, including Fanatics, Coinbase and MetaMask, all of which have recently launched or expanded event trading platforms.
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