Milwaukee Bucks forward Giannis Antetokounmpo announced on Friday that he has joined New York-based prediction market platform Kalshi as a shareholder, becoming the first NBA player to invest directly in the company.
According to a report by The Athletic, although Antetokounmpo is the first NBA player to directly invest in the company, Kalshi's Jack Such said Kevin Durant is an indirect investor through his and agent Rich Kleiman's 35V venture fund.
“The internet is full of opinions. I decided it was time to make some of my own,” the two-time NBA MVP said in an X post. “Today, I’m joining Kalshi as a shareholder.”
The NBA's collective bargaining agreement allows players to advertise for and hold stakes of up to 1% in sports betting companies, provided they do not promote wagers tied to the league.
Kalshi said it will partner with Antetokounmpo on marketing and live events and added that, under its terms of service banning insider trading and market manipulation, he will not be permitted to trade in NBA-related markets.
The announcement generated discussion on social media platforms, including Reddit Inc.(NYSE:RDDT).
Other shareholders in Kalshi include prominent venture capital entities such as Sequoia Capital, Andreessen Horowitz, and Coinbase Ventures.
Photo: Shutterstock
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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