Milwaukee Bucks superstar Giannis Antetokounmpo just became the first NBA player to invest directly in prediction market platform Kalshi, the company announced Friday. The two-time MVP is taking a stake under new league rules that allow athletes to own up to 1% of sports betting companies - though the deal's already stirring controversy on social media about potential conflicts of interest. Kalshi says Antetokounmpo will be barred from trading on any NBA-related markets as part of the partnership.
Kalshi just landed its highest-profile investor yet. Giannis Antetokounmpo, the Milwaukee Bucks forward and two-time NBA MVP, announced Friday he's joining the prediction market platform as a shareholder - marking the first time an active NBA player has taken a direct equity stake in the company.
"The internet is full of opinions. I decided it was time to make some of my own," Antetokounmpo said in an Instagram post. "Today, I'm joining Kalshi as a shareholder. We all on Kalshi now."
The move is possible thanks to the NBA's most recent collective bargaining agreement, which opened the door for players to invest in sports betting companies. According to The Athletic, the agreement allows athletes to hold stakes of up to 1% in these firms and participate in advertising, with one key restriction - they can't promote wagers related to league games.
For Kalshi, snagging a marquee athlete like Antetokounmpo represents a major branding coup. The platform has been racing to establish itself in the prediction market space, competing against rivals in an increasingly crowded field. The company says it will partner with the NBA star on marketing campaigns and live events, potentially bringing mainstream sports appeal to what's traditionally been a finance and tech-focused product.
But the announcement immediately sparked backlash online. Reddit's NBA community lit up with skeptical reactions, with users questioning whether the arrangement creates ethical problems. "Literally a conflict of interest," one commenter wrote on the platform. Others described Kalshi as "cancerous" and wondered aloud whether the NBA should even allow such deals.
