Milwaukee Bucks superstar Giannis Antetokounmpo is expanding his brand beyond the basketball court, becoming a shareholder in Kalshi, a prediction market company. The announcement, made Friday on his X account, came just hours after the NBA trade deadline passed, leaving many to initially speculate about a potential team change.
“Everyone is online. The internet is full of opinions. I decided it was time to give mine,” Antetokounmpo posted. “Today I join Kalshi as a shareholder.”
Kalshi, described as a leading prediction market, allows users to trade on the outcomes of future events. While often associated with political predictions, the platform has expanded into sports, offering opportunities to bet on various results. Antetokounmpo is reportedly the first basketball player to take a shareholder stake in the company, a partnership that will include collaboration on live events and marketing initiatives, according to a Kalshi statement.
“Giannis is a legend,” said Kalshi CEO Tarek Mansour. “He’s exactly the type of long-term partner we want to align our growing brand with, and we couldn’t be happier to have him join us.”
The timing of the announcement fueled speculation, as Antetokounmpo had been at the center of trade rumors leading up to ‘s deadline. The Bucks opted to retain the two-time MVP, who has been sidelined since with a right calf strain.
The partnership has already drawn scrutiny, with some fans expressing concerns about a potential conflict of interest. One user on X questioned the ethics of a professional athlete being a shareholder in a gambling-related platform, suggesting it could compromise the integrity of the game.
Kalshi has stated that Antetokounmpo will be prohibited from trading in NBA-related markets, a measure intended to address those concerns. The company emphasized its strong market integrity provisions, citing its status as a federally licensed financial exchange.
“I love Kalshi markets and have been checking them frequently lately,” Antetokounmpo said in a statement released by the company. “I like to win. I know Kalshi is going to be a winner and I’m excited to be involved.”
Prediction markets, like Kalshi, function by allowing users to buy and sell contracts based on the perceived probability of an event occurring. The price of a contract fluctuates based on trading activity, theoretically reflecting the collective wisdom of the market. Prices range from $0 to $1, representing a 0% to 100% probability.
The emergence of these markets has attracted attention from governing bodies like the NCAA, which recently requested changes to how Kalshi describes its sports markets and sought clarification on safeguards against gambling risks. The NCAA is wary of appearing to endorse such platforms, particularly given the ongoing concerns surrounding sports gambling and its potential impact on collegiate athletics. A recent incident involving a large payout on another prediction market, Polymarket, following the capture of Venezuelan President Nicolás Maduro, raised questions about potential insider trading and the need for greater oversight.
Kalshi has responded to the NCAA’s concerns, stating it is working to adjust the language on its site and reaffirming its commitment to market integrity. The company maintains that it is not a gambling service but a financial exchange, operating under federal regulations.
