Giannis Antetokounmpo, the Milwaukee Bucks star and former NBA MVP, announced that he’s an investor in the online gambling platform Kalshi.
Kalshi, the leading U.S. prediction market by volume, is valued at more than $10 billion, but some warn the sector faces risks of overvaluation amid legal uncertainty.
NBA Commissioner Adam Silver said two weeks after Giannis’s announcement that the Kalshi investment is “minuscule.” Silver’s comments came at NBA All-Star weekend 2026.
Kalshi is worth $11 billion, and under NBA rules, Giannis is allowed to own up to 1% of a prediction market. A full percent of Kalshi was worth $110 million.
Controversial Relationship
Prediction markets are controversially regulated by the federal government. Numerous states have argued that CFTC regulation of online sports betting is unlawful.
Antetokounmpo is the second professional athlete to publicly endorse Kalshi.
In January, the company named golf star Bryson DeChambeau as its first-ever athlete ambassador. In 2025, Kalshi announced that the NBA’s Kevin Durant had also invested, but the firm later deleted the post.
Durant is part of an investment group that acquired a stake in Kalshi.
First NBA Athlete to Promote Kalshi
Kalshi said Antetokounmpo will serve in a marketing role, not simply as a passive investor.
“I love the Kalshi markets and have been checking them often recently,” Antetokounmpo said in a PR statement. “I like to win. It’s clear to me Kalshi is going to be a winner, and I’m excited to be getting involved”.
In recent months, Kalshi has also partnered with CNN and the National Hockey League to boost its brand. CNBC, a leading business news network, took a financial stake in Kalshi.
Despite the big names, the company has also pursued local partnerships, such as its controversial New York City grocery store promo.
Not the First NBA Gambling Endorsement
NBA players such as Lonzo Ball, LeBron James, and James Harden also put their star power behind potentially addictive and harmful gambling products.
Antetokounmpo’s deal is the first for an NBA player and a prediction market.
The NBA does not license its data, images, or logos to Kalshi or any other prediction market.
Why it Matters
NBA players are doubling down on gambling, despite a recent scandal involving several players and allegations of prop bet manipulation.
Kalshi said in a new release that Antetokounmpo can’t bet on the NBA through Kalshi.
Nonetheless, this investment will draw scrutiny as sports leagues face increased attention from regulators and the public over game integrity.
All forms of online sports gambling are addictive, and celebrity endorsements make addictive products appear safer than they really are. Prediction markets claim their product isn’t gambling.
As of writing, the NBA had not commented publicly on Antetokounmpo’s investment.
In 2025, NFL star Saquon Barkley reportedly invested in Kalshi rival Polymarket. The NFL has said it has general concerns about the rise of stock-market-style sports betting.
In Wisconsin, online sports betting is illegal, but prediction markets like Kalshi exploit a legal loophole to offer gambling.
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