Bucks’ Giannis Antetokounmpo becomes a shareholder in Kalshi
Milwaukee Bucks star Giannis Antetokounmpo has acquired a stake in Kalshi, a prominent prediction market offering a variety of sports trading options.
Antetokounmpo revealed the collaboration on Friday.
“The internet is filled with opinions. I felt it was time to share some of my own,” Antetokounmpo shared on social media. “Today, I’m becoming a shareholder in Kalshi.”
Kalshi stated that Antetokounmpo is the inaugural basketball player to become a shareholder in the company. The partnership will involve support for live events and marketing initiatives.
“Giannis is a legend,” said Kalshi CEO Tarek Mansour in a statement. “He represents the kind of long-term partner we aim to associate our expanding brand with, and we are thrilled to have him on board.”
Antetokounmpo was the focus of extensive speculation prior to Thursday’s NBA trade deadline. However, the Bucks opted to retain the two-time MVP, who has been sidelined since straining his right calf on January 23.
In the days leading up to the deadline, Kalshi made several posts on X showcasing its event contracts related to Antetokounmpo’s trade market and the changing odds associated with the teams thought to be interested in acquiring him.
As per Kalshi’s announcement, Antetokounmpo will be prohibited from trading on markets pertaining to the NBA. Inquiries were made on Friday for additional information from Kalshi and for comments from the NBA.
“I enjoy the Kalshi markets and have been checking them frequently lately,” Antetokounmpo stated in the company’s announcement. “I like to win. It’s evident to me that Kalshi is poised for success, and I’m eager to get involved.”
Prediction markets offer a platform to trade or bet on the outcomes of future events. They gained traction in politics, but the range of typically yes-or-no questions encompasses everything from weather forecasts to the Academy Award for best picture.
The markets consist of event contracts, with prices determined by what traders are willing to pay, which theoretically reflects the perceived likelihood of an event occurring. The entry cost for each contract varies from $0 to $1, indicating a 0% to 100% probability of what traders believe might happen.
When the U.S. apprehended Venezuelan President Nicolás Maduro last month, an anonymous trader on Polymarket, another prediction market, earned over $400,000 after wagering that Maduro would soon be ousted, raising concerns about possible insider trading due to the timing of the bets and the trader’s limited activity.
