Milwaukee Bucks forward Giannis Antetokounmpo has taken an ownership stake in Kalshi, a federally regulated prediction market that allows users to trade on the outcomes of future events, including sports. The announcement, made Friday, places one of the NBA’s most prominent active players in a formal business relationship with a platform that has recently expanded its presence in basketball-related markets.

“The internet is full of opinions. I decided it was time to make some of my own,” Antetokounmpo wrote on social media according to ESPN. “Today, I’m joining Kalshi as a shareholder. We all on Kalshi now.”

Kalshi confirmed that Antetokounmpo is the first professional basketball player to become a shareholder in the company. As part of the arrangement, the nine-time All-Star will participate in marketing efforts and live events tied to the platform. Kalshi also stated that Antetokounmpo is prohibited from trading on any NBA-related markets under its insider trading rules.

“Giannis is a legend,” Kalshi CEO Tarek Mansour said in a release. “He’s exactly the type of long-term partner we want to align our growing brand with, and we couldn’t be happier he’s on board.”

Trade Rumors, Markets, and Timing

The partnership became public just after a period of heavy speculation about Antetokounmpo’s future with the Bucks. In the days before the NBA trade deadline, rumors circulated that the two-time MVP could be moved, fueled in part by Milwaukee’s struggles this season and Antetokounmpo’s recent injury absence after straining his right calf on Jan. 23.

During that same stretch, Kalshi hosted event contracts related to Antetokounmpo’s potential trade destination, and the platform posted on X about shifting odds tied to teams thought to be in contention. Earlier in the week, Kalshi listed a market asking whether Antetokounmpo would be traded before the deadline. He ultimately remained in Milwaukee.

On the day of the announcement, Kalshi also offered contracts connected to the Bucks’ game against Indiana, listing Milwaukee as a 1.5-point underdog. That market drew more than $90,000 in trading volume, and the company currently maintains several active contracts linked to Antetokounmpo.

Antetokounmpo said his interest in the platform predates the deal. “I love the Kalshi markets and have been checking them often recently,” he said in the company’s release. “I like to win. It’s clear to me Kalshi is going to be a winner and I’m excited to be getting involved.”

Rules, Regulation, and a Gray Area

Under the NBA’s collective bargaining agreement, prediction markets are treated the same as sports betting operators for player partnerships. Players may endorse such companies and hold de minimis equity stakes, though they cannot promote betting on NBA-related outcomes. A source familiar with the CBA said players are also barred from owning or operating sportsbooks.

Kalshi occupies a distinct regulatory position. The platform operates under oversight from the Commodity Futures Trading Commission (CFTC), which allows it to offer outcome-based contracts nationwide. At the same time, the company has faced legal resistance in states with established sports betting frameworks. Massachusetts recently won a court decision blocking Kalshi from operating there, though a temporary restraining order has not yet taken effect. Nevada has also sought to bar prediction markets and remains in an extended legal dispute with the company.

The NBA has not commented publicly on Antetokounmpo’s involvement with Kalshi. In May 2025, however, the league asked the CFTC to adopt a clearer regulatory structure for single-game sports contracts after Kalshi began offering moneylines and spreads on NBA contests.

“If the CFTC does ultimately decide to permit the continued offering of sports event contracts, we encourage it to close this gap and to adopt a comprehensive regulatory and oversight framework analogous to those governing state sports betting markets,” the league wrote, while urging limits on the expansion of narrow event propositions.

Perception and Broader Concerns

Despite compliance with league rules, the deal has drawn criticism from fans and commentators who argue it creates a conflict of interest. Online reactions across Instagram, Reddit, and X focused on the difficulty of separating Antetokounmpo’s on-court performance from a platform that recently hosted markets tied to his career decisions.

Those concerns come amid wider scrutiny of gambling’s presence in professional basketball. Several star players maintain endorsement relationships with major sportsbooks, and betting-related content has become a regular feature of game broadcasts and sports media coverage. The league has also dealt with multiple gambling scandals in recent years, including the arrest of Miami Heat guard Terry Rozier in October over alleged misuse of inside information, and the lifetime ban of former Toronto Raptors center Jontay Porter after he manipulated playing time to influence prop bets.

Antetokounmpo, who already holds ownership stakes in the Milwaukee Brewers and Nashville SC, has not addressed the criticism directly. For now, his role with Kalshi stands as another example of the increasingly close ties between elite athletes and the expanding prediction market industry.