Milwaukee Bucks star Giannis Antetokounmpo trended for a different reason last week when he revealed that he made investment on a gambling firm dabbling in market prediction – Kalshi. It came at a time when the Milwaukee Bucks star’s future was heavily being discussed online.
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“The internet is full of opinions,” the Greek Freak wrote on his social media post. “I decided it was time to make some of my own. Today, I’m joining Kalshi as a shareholder. We all on Kalshi now.”
Many thought there is a conflict of interest there.
NBA Commissioner said he is aware of Antetokounmpo’s investment but argued that the Greek Freak’s capital is too small for it to be a concern. What they are more concerned with is the growth of prediction market and its evolution.
“From what I understand, it’s a minuscule investment, much smaller than one percent, so that does not violate the rules that have been collectively bargained with the Players’ Association,” Silver said when asked about the topic during the All-Star Weekend.
“It concerns me in the totality of all this betting that we need a better handle, no pun intended, on all the different activity that’s happening out there,” he continued.
Kalshi is worth $11 billion and has markets all over the world.
Giannis Antetokounmpo is not the only one
Antetokounmpo is not the first to be connected to a gambling company. Other NBA superstars are also connected to popular firms dedicated in sports betting.
Houston Rockets star Kevin Durant is reportedly an indirect investor to Kalshi through his and agent Rich Kleiman’s 35V venture fund.
Lebron James launched a partnership with Draft Kings in 2024.
“LeBron will help support key football initiatives and tentpole events through content creation, such as weekly football picks and more,” DraftKings said in a statement.
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