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Giannis Antetokounmpo of the Milwaukee Bucks announced Friday that he has joined the Kalshi prediction market as a shareholder, making him the first NBA player to invest directly in the company.
“The Internet has a lot of ideas. I thought it was time to make my own,” said the two-time NBA MVP. in a social media post. “Today, I am entering Kalshi as a shareholder. We are all in Kalshi now.”
The announcement did not go down well on social media. On Redditfor example, one user called it “real conflict,” while another said Kalshi is “cancer” and another wondered, “is this allowed?”
According to The AthleticThe NBA’s recent collective bargaining agreement allows players to advertise and take a 1% stake in sports betting companies, as long as they don’t raise league-related bets.
Kalshi said he will cooperate with Antetokounmpo on commercials and live events — and in accordance with the company’s “strict policy prohibiting insider trading and market manipulation,” he will not be allowed to trade on NBA-related markets.
