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Milwaukee Bucks forward Giannis Antetokounmpo has acquired a stake in the prediction market platform Kalshi, representing the first instance of an active NBA player making a direct investment in the federally regulated event-contracts exchange.
Key Takeaways:
- Giannis Antetokounmpo has become the inaugural active NBA player to invest directly in the prediction market platform Kalshi.
- Kalshi provides federally regulated “yes-or-no” event contracts across various sectors, including sports, politics, and entertainment.
- This agreement comes amid increasing scrutiny regarding the indistinct boundaries between trading markets and sports betting.
The two-time NBA MVP revealed the partnership on Friday, stating that he will become a shareholder in Kalshi and work with the company on live events and marketing initiatives.
Kalshi verified the agreement in a statement, noting that Antetokounmpo will be prohibited from trading in any NBA-related markets due to internal regulations against insider trading and manipulation.
Inside Kalshi’s ‘Yes-or-No’ Prediction Trading Markets
Kalshi runs a marketplace where users can trade “yes or no” contracts linked to real-world outcomes.
The platform features markets that cover politics, entertainment, and sports, enabling traders to take positions on events such as award winners or championship outcomes.
Earlier this week, the service even facilitated a market regarding whether Antetokounmpo himself would be traded prior to the NBA deadline.
While financial transactions occur, the platform is classified as a financial exchange rather than a sportsbook.
Consequently, Kalshi is authorized to operate throughout the United States under federal oversight, circumventing the complex array of state gambling regulations that apply to conventional betting operators.
The NBA’s collective bargaining agreement permits players to endorse betting companies under specific conditions, as long as they do not promote wagers on NBA, WNBA, or G League games.
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Players are also allowed to hold passive equity stakes of up to 1% in such enterprises. Antetokounmpo’s investment adheres to these guidelines.
“I like to win. It’s clear to me Kalshi is going to be a winner and I’m excited to be getting involved,” Antetokounmpo stated.
We all on @Kalshi now pic.twitter.com/cCNGxfLWO8
— Giannis Antetokounmpo (@Giannis_An34) February 6, 2026
He is not the first basketball personality associated with the company. Phoenix Suns star Kevin Durant is reportedly an indirect investor through the 35V venture fund he co-founded with agent Rich Kleiman.
This development occurs amid intensified scrutiny of sports wagering. US authorities have recently filed gambling-related charges involving several basketball figures, and regulators are investigating the growing overlap between trading platforms and betting markets.
The NCAA had previously requested Kalshi to adjust wording on its site that implied an official relationship with the organization.
Kalshi Expands Sports Push With NHL Deal and Athlete Endorsement
Despite the scrutiny, Kalshi has been broadening its sports footprint.
The company announced a partnership with the NHL in October and, in January, signed professional golfer Bryson DeChambeau as its first athlete endorser, including appearances and promotional campaigns related to events in which he participates.
Kalshi has also achieved a significant media milestone by partnering with CNN, making the company the network’s official prediction markets partner while completing a $1 billion funding round at an $11 billion valuation.
Web3 prediction markets have surpassed $13 billion in cumulative trading volume, reaching a record high even as the wider crypto markets experience a downturn.
This increase has attracted major players from the tech and finance sectors, including Fanatics, Coinbase, and MetaMask, all of which have recently launched or expanded event-trading platforms.
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