- Giannis Antetokounmpo’s equity investment in prediction market Kalshi was finalised during the same week the platform hosted high-volume markets speculating on his trade status.
- Kalshi says restrictions barring Antetokounmpo from trading on NBA-related markets, alongside integrity and monitoring controls, were already in place before he became a shareholder.
- The Kalshi deal combines a sub-1% equity stake with marketing involvement, adding to Antetokounmpo’s existing portfolio of professional sports investments.
Milwaukee Bucks forward Giannis Antetokounmpo has acquired a sub-1% equity stake in prediction market platform Kalshi, the company confirmed, making him the first active NBA player to hold ownership in a business offering basketball-related event contracts. Antetokounmpo announced the investment on social media on 6 February, one day after the NBA trade deadline passed without him being moved from Milwaukee.
Kalshi said the agreement was signed on 5 February and remains within the NBA’s collective bargaining rules, which allow players to passively invest in sports betting-related companies provided ownership stays below 1%. Based on Kalshi’s most recent valuation of US$11 billion (AU$15.62 billion), a full 1% holding would be worth about US$110 million (AU$156.2 million), though the precise size of Antetokounmpo’s stake was not disclosed.
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Deal Sparks Debate Over Potential Conflicts
The timing of the deal attracted attention because Kalshi was simultaneously hosting markets speculating on Antetokounmpo’s potential trade destination. Kalshi said those markets were active earlier in the week and generated more than US$23 million (AU$32.66 million) in trading volume as probabilities shifted throughout January and early February. The company stated the partnership was not in place while those contracts were running.
Kalshi said Antetokounmpo is prohibited from trading on NBA-related markets and from participating in contracts that reference him personally. Following the announcement, fans and commentators on social media raised concerns about potential conflicts of interest linked to the investment. Kalshi responded by pointing to existing trading restrictions and monitoring systems, which it said predated Antetokounmpo’s involvement.
The partnership includes both an equity investment and marketing involvement, according to Kalshi. Antetokounmpo has previously taken ownership stakes in the Milwaukee Brewers and Nashville SC.
Related: Massachusetts Judge Moves to Block Kalshi Sports Contracts
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