Milwaukee Bucks superstar Giannis Antetokounmpo has become a shareholder in Kalshi, a prominent prediction market offering various sports trading opportunities.
Antetokounmpo revealed the partnership on Friday.
“The internet is filled with opinions, and I felt it was time to share some of my own,” Antetokounmpo shared on social media. “Today, I’m excited to join Kalshi as a shareholder.”
Kalshi noted that Antetokounmpo is the first basketball player to become a shareholder in the company. The partnership will focus on live events and marketing initiatives.
“Giannis is a legend,” said Kalshi CEO Tarek Mansour in a statement. “He’s precisely the kind of long-term partner we want as we grow our brand, and we’re thrilled to have him on board.”
Leading up to Thursday’s NBA trade deadline, Antetokounmpo was the subject of many rumors. but, the Bucks chose to retain the two-time MVP, who has not played since straining his right calf on January 23.
In the days prior to the deadline, Kalshi posted multiple updates on X showcasing its event contracts related to Antetokounmpo’s trade market and the changing odds of the teams regarded as potential suitors for his services.
According to Kalshi’s announcement, Antetokounmpo will be prohibited from trading on markets concerning the NBA. Inquiries were sent Friday requesting more information from Kalshi and a statement from the NBA.
“I have a passion for the Kalshi markets and have been monitoring them frequently,” Antetokounmpo stated in their release. “I enjoy winning, and it’s evident to me that Kalshi is destined for success. I’m eager to be involved.”
At 31, Antetokounmpo is also part of the ownership group for Major League Baseball’s Milwaukee Brewers and Major League Soccer’s Nashville SC.
Prediction markets allow participants to trade— or bet— on the outcomes of future events. They gained traction primarily in politics, but generally cover a wide range of topics from the weather to the Oscars for best picture.
These markets consist of event contracts, with prices based on what traders are willing to pay, which theoretically reflects the perceived likelihood of an event happening. Buy-ins for each contract range from zero to $1, indicating a 0% to 100% chance of what traders believe might occur.
When the U.S. apprehended Venezuelan President Nicolás Maduro last month, an anonymous trader on Polymarket, a different prediction market, profited over $400,000 after wagering that Maduro would soon leave office, raising concerns of potential insider trading due to the timing of the bets and the trader’s limited activity.
