Giannis Antetokounmpo of the Milwaukee Bucks announced Friday that he has joined prediction market Kalashi as a shareholder, making him the first NBA player to invest directly in the company.
The two-time NBA MVP said, “The Internet is full of opinions. I decided it was time to form my own.” in a social media post. “Today, I am joining Kalshi as a shareholder. We are all in Kalshi now.”
This announcement did not go down well on social media. on redditFor example, one user described it as “literally a conflict of interest,” while another described Kalshi as “cancer” and yet another wondered, “Is that even allowed?”
according to the athleticThe NBA’s recent collective bargaining agreement allows players to advertise and take up to a 1% stake in sports betting companies as long as they are not promoting league-related wagers.
Kalushi said he would partner with Antetokounmpo on marketing and live events — and that he would not be allowed to trade in NBA-related markets, per the company’s “strict terms of service that ban insider trading and market manipulation.”
