Giannis Antetokounmpo of the Milwaukee Bucks announced Friday that he has joined prediction market Kalshi as a shareholder, making him the first NBA player to invest directly in the company.
“The internet is full of opinions. I decided it was time to make some of my own,” said the two-time NBA MVP in a social media post. “Today, I’m joining Kalshi as a shareholder. We all on Kalshi now.”
The announcement has not gone over 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 yet another wondered, “is this even allowed.”
According to The Athletic, the NBA’s recent collective bargaining agreement allows players to advertise and take stakes of up to 1% in sports betting companies, as long as they’re not promoting league-related wagers.
Kalshi said it will partner with Antetokounmpo on marketing and live events — and in accordance with the company’s “strict terms of service that ban insider trading and market manipulation,” he will not be allowed to trade on markets related to the NBA.
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