Giannis Antetokounmpo of the Milwaukee Bucks introduced Friday that he has joined prediction market Kalshi as a shareholder, making him the primary NBA participant to speculate immediately within the firm.
“The web is filled with opinions. I made a decision it was time to make a few of my very own,” mentioned the two-time NBA MVP in a social media post. “In the present day, I’m becoming a member of Kalshi as a shareholder. All of us on Kalshi now.”
The announcement has not gone over effectively on social media. On Reddit, for instance, one person described it as “actually a battle of curiosity,” whereas one other described Kalshi as “cancerous” and yet one more puzzled, “is that this even allowed.”
According to The Athletic, the NBA’s current collective bargaining settlement permits gamers to promote and take stakes of as much as 1% in sports activities betting firms, so long as they’re not selling league-related wagers.
Kalshi mentioned it’ll accomplice with Antetokounmpo on advertising and marketing and reside occasions — and in accordance with the corporate’s “strict phrases of service that ban insider buying and selling and market manipulation,” he is not going to be allowed to commerce on markets associated to the NBA.
