Giannis Antetokounmpo of the Milwaukee Bucks announced Friday that he has joined predictive market Kalshi as a shareholder, becoming the first NBA player to invest directly in the company.
“The internet is full of opinions. I decided it was time to form my own,” the two-time NBA MVP said in a social media post. “Today I am joining Kalshi as a shareholder. We are all on Kalshi now.”
The announcement did not go down well on social media. On Reddit, for example, one user described it as “literally a conflict of interest,” while another described Kalshi as “cancerous” and another wondered “is it even allowed.”
According to The Athletic , the NBA’s recent collective bargaining agreement allows players to advertise and accept bets of up to 1% at sports betting companies as long as they don’t promote league-related bets.
Kalshi said he will partner with Antetokounmpo in marketing and live events — and in accordance with the company’s “strict terms of service that prohibit insider trading and market manipulation,” he will not be able to trade in NBA-related markets.