NBA star makes surprising investment following trade decision

Milwaukee Bucks star Giannis Antetokounmpo recently revealed an unexpected partnership with the prediction markets platform Kalshi, just following a day after the NBA trade deadline passed. This collaboration came at a time when Antetokounmpo was at the center of trade rumors, which escalated after he had made a formal request to be moved in February. Despite the speculation surrounding his potential trade, the Bucks couldn’t find a suitable partner, leading to Antetokounmpo remaining with the team.

During the trade deadline, the value of the “contract” regarding Antetokounmpo being traded on Kalshi spiked to over $23 million. Users on the platform were given the option to speculate on which team the two-time NBA MVP might join, including the Bucks. Antetokounmpo officially announced his collaboration with Kalshi through a press release issued a day after the trade deadline’s conclusion. However, this announcement raised questions about possible collusion or market manipulation.

Expressing his thoughts on the partnership, Antetokounmpo stated, “The internet is full of opinions. I decided it was time to make some of my own.” He further emphasized his enthusiasm for participating in the Kalshi markets, indicating his devotion to winning and his confidence in the company’s future success. As part of this partnership, Antetokounmpo will hold a minority stake of less than 1% in Kalshi, with the company currently valued at over $11 billion. CEO Tarek Mansour praised the NBA star, describing him as a “legend” and an ideal long-term partner for the brand.

To address concerns about potential game collusion, Kalshi noted that Antetokounmpo, as an active NBA player, would be prohibited from trading on markets linked to the NBA, in adherence to strict terms of service banning insider trading and market manipulation, seen in a similar case involving Terry Rozier of the Miami Heat, who is currently facing suspension for wagering on games he was involved in.

Antetokounmpo has been sidelined from playing for the Bucks since late January due to a right calf strain. Despite estimating a four-to-six week recovery timeline, there is uncertainty about his return this season. The Bucks, initially anticipated to contend for a top-six seed in the Eastern Conference, have plummeted to the 12th seed, relinquishing their chances in the play-in race. It remains unknown whether Antetokounmpo will make a comeback before the season ends.