Giannis Antetokounmpo Takes Sub-1% Stake in Prediction Market Kalshi
What Did Giannis Invest In?
Milwaukee Bucks forward Giannis Antetokounmpo has acquired a minority equity stake in Kalshi, the CFTC-regulated prediction markets platform, through his company Ante Inc. Kalshi confirmed to The Block that the deal was signed on Thursday, the identical day as the NBA’s Feb. 5 trade deadline.
The company said Antetokounmpo’s holding falls below 1% of Kalshi’s equity, staying within the threshold set by the NBA’s 2023 Collective Bargaining Agreement for passive player investments in sports betting-related businesses. Based on Kalshi’s most recent $11 , a 1% stake would be worth more than $100 million, though the company declined to disclose the exact size of Antetokounmpo’s holding.
Antetokounmpo announced the investment publicly on X a day later, later than trade speculation around his future in Milwaukee had subsided. “The internet is full of opinions. I decided it was time to make some of my own,” he wrote. “Today, I’m joining Kalshi as a shareholder.”
Investor Takeaway
Why the Timing Drew Attention
The investment followed a week in which Kalshi had been running event contracts tied directly to Antetokounmpo’s potential trade destination. Those markets attracted more than $23 million in , with teams including Golden State, Miami, New York, and Minnesota listed as possible landing spots.
Kalshi said the equity agreement was not in place while those markets were live. The company also stated that, under existing platform rules, Antetokounmpo is barred from trading on any NBA-related markets and from participating in contracts that reference him personally. According to Kalshi, those restrictions were already in force before he became a shareholder and remain unchanged.
Still, the overlap between active markets and a player’s personal circumstances triggered backlash online. Critics questioned whether financial exposure to a prediction platform that prices events tied to an athlete’s career could create conflicts, even if trading restrictions are enforced.
Backlash Highlights Integrity Concerns
Antetokounmpo’s announcement prompted criticism on X, with commentators arguing that the arrangement blurs lines between participants and platforms. Independent sports journalist Joon Lee described the deal as “a massive of interest,” arguing that ownership stakes go further than traditional endorsement deals.
Kalshi pushed back against those claims. A company spokesperson said the platform prohibits athletes from trading in their own leagues and that enforcement does not depend on whether an individual is an investor or a standard user. “A lot of what you’re viewing on X is conspiracy theory, not facts,” the spokesperson told The Block.
The spokesperson also cited internal secureguards, including an integrity screening system used during onboarding and ongoing monitoring for . Kalshi said it works with major sports leagues, NCAA conferences, and sportsbooks as part of those controls.
Despite those measures, Antetokounmpo remains associated with nine active Kalshi markets at the time of publication. Combined volume across those markets stood below $10 million, far lower than the trade-deadline market that drove most of the attention earlier in the week.
Investor Takeaway
How This Fits the Wider Regulatory Picture
The deal lands amid ongoing debate over how prediction markets intersect with professional sports. In May 2025, the NBA’s assistant general counsel wrote to the requesting regulatory provisions to address integrity risks later than Kalshi began offering moneylines and spreads on NBA games.
The league has not commented publicly on Antetokounmpo’s investment. Multiple outlets reported that requests for comment were not returned, leaving uncertainty over whether the NBA views passive equity ownership as compatible with its existing framework for gambling-related activity.
Kalshi has previously defended its model by pointing to its federal regulatory status and its separation between market access and participation. Earlier this year, the platform announced its first individual athlete endorsement deal with golfer Bryson DeChambeau, which included advertising and appearances but no equity component.
Antetokounmpo’s arrangement goes further, combining both an equity stake and a marketing partnership involving live events, according to Kalshi’s press release. In that release, Antetokounmpo said: “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 and I’m excited to be getting involved.”
What Comes Next for Sports-Linked Prediction Markets
The news adds pressure to an already sensitive area for prediction markets, which have expanded rapidly into sports, politics, and current events. While platforms argue that their contracts offer price discovery rather than gambling, league officials and lawmakers continue to question whether those distinctions hold when athletes themselves become investors.
