Giannis becomes Kalshi shareholder, first NBA star - AI News Today Recency

# Giannis Becomes Kalshi Shareholder, First NBA Star

NBA superstar Giannis Antetokounmpo has made headlines by becoming the first basketball star to join prediction market platform Kalshi as a shareholder, announced via social media on Friday. The Milwaukee Bucks forward, a two-time MVP, shared his excitement with the post: “The internet is full of opinions. I decided it was time to make some of my own. Today, I’m joining Kalshi as a shareholder. We all on Kalshi now.”[1][2][3]

Giannis Antetokounmpo’s Bold Move into Prediction Markets

Antetokounmpo, 31, announced the partnership through his company Ante Inc., aligning with Kalshi's rapid growth, which recently surpassed $100 billion in annualized volume.[3] Kalshi, founded in 2018 and backed by investors like Sequoia Capital, Andreessen Horowitz, Paradigm, and Coinbase Ventures, operates as the world's largest regulated prediction market for events including elections, awards, and sports.[3] The deal positions Giannis as a key partner for marketing and live events, with Kalshi CEO Tarek Mansour praising him as “a legend” and the ideal long-term brand ally.[1][3] Notably, Antetokounmpo will be barred from trading on NBA-related markets to prevent insider trading or manipulation, per Kalshi's strict terms.[1][2][3]

This investment follows intense trade rumors ahead of the NBA's February 5 deadline, where Kalshi even featured markets on his potential moves, though the Bucks retained their star who has been sidelined since straining his calf on January 23.[1] Giannis expressed enthusiasm, stating, “I love the Kalshi markets and have been checking them often recently. I like to win. It’s clear to me Kalshi is going to be a winner.”[1]

Fan Backlash and Conflict of Interest Concerns

The announcement sparked immediate controversy among fans, with social media erupting in criticism. Reddit users labeled it a “literal conflict of interest” and called Kalshi “cancerous,” questioning its legality for an active NBA player.[2][4] This comes amid the league's challenges with legalized sports betting, including the lifetime ban of former Raptors player Jontay Porter in April 2024 for betting violations and federal charges against Heat guard Terry Rozier in October.[4]

However, the NBA's collective bargaining agreement permits players to hold up to 1% stakes in sports betting firms and advertise, provided no promotion of league wagers.[2] Kalshi emphasized its regulated status and safeguards, with no reported NBA comment yet.[1][2]

Giannis’s Growing Business Empire

Antetokounmpo’s Kalshi stake adds to his diverse portfolio, including part-ownership of MLB's Milwaukee Brewers and MLS's Nashville SC, plus investments via Ante Inc. in media firm Improbable Media and his BYL Venture fund.[1][3] As the first NBA star shareholder in a prediction market, this move underscores his shift from court dominance to savvy entrepreneurship, especially post-trade deadline stability with the Bucks.[1][4]

What Kalshi Brings to the Table

Kalshi pioneered legal, regulated prediction markets in the U.S., offering contracts on real-world outcomes beyond traditional betting.[3] Its platform has drawn millions of users, crediting its safety and innovation for mainstream adoption. Partnering with Giannis taps into his massive fanbase for events and promotion, boosting visibility amid explosive growth.[1][3]

Frequently Asked Questions

Who is the first NBA star to become a Kalshi shareholder? Giannis Antetokounmpo is the first basketball star to join Kalshi as a shareholder, announced on Friday via social media.[1][2][3]

What restrictions does Giannis face with Kalshi? Antetokounmpo is forbidden from trading on NBA-related markets to comply with Kalshi’s rules against insider trading and manipulation.[1][2][3]

Why are fans upset about Giannis’s Kalshi investment? Fans cite potential conflicts of interest, especially amid NBA betting scandals, with some calling it questionable for an active player.[2][4]

What is Kalshi, and what does it do? Kalshi is the world’s largest regulated prediction market platform, allowing trades on events like elections, sports, and awards, with over $100 billion in annualized volume.[3]

Is Giannis’s investment allowed under NBA rules? Yes, the NBA’s collective bargaining agreement allows players up to 1% stakes in betting companies, excluding league wager promotions.[2]

What other investments does Giannis Antetokounmpo have? He co-owns the Milwaukee Brewers and Nashville SC, and invests through Ante Inc. in media and his BYL Venture fund.[1][3]