Can’t have it all
Kenneth Walker III and his Seattle Seahawks might be feeling like they own the world after winning Super Bowl LX but there’s something the game’s MVP and other NFL players can’t own, and that’s a stake in prediction markets.
The news that Walker and NFL players “may not own” shares in prediction market firms was confirmed in an email from chief NFL spokesman Brian McCarthy to Pro Football Talk on Saturday. The NFL’s line came after Milwaukee Bucks star Giannis Antetokounmpo announced on Friday that he bought shares in Kalshi.
Antetokounmpo took to X to state: “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”:
According to Kalshi, the Bucks star is the first pro basketball player to join become a shareholder of the company.
NBA stars push the envelope
While McCarthy ruled out NFL players from following suit, even though Antetokounmpo and NBA players can be shareholders in firms like Kalshi, some guardrails still apply.
According to a news release, the Bucks’ power forward will be banned from trading on NBA-related markets, but will be allowed to “help with live events and marketing.”
Antetokounmpo’s association with the prediction markets company comes after fellow NBA star Devin Booker’s monster bet on the Seahawks to win Super Bowl LX raised suspicions of a marketing ploy.
NBA players are allowed to bet on the NFL, so Booker could be $1.8m richer after Sunday’s 29-13 win for Seattle after betting $1m on the Seahawks to cover the 3.5-point spread against the New England Patriots.
fans across social media have expressed their displeasure
Antetokounmpo and Booker’s high-profile association with betting firms, however, polarizes opinion following major NBA sports betting scandals that the feds continue to investigate and prosecute. Scores of sports fans across social media have expressed their displeasure at Antetokounmpo’s move, claiming “a conflict of interest.”
Marketing muscle
For Kalshi, having a star the caliber of Antetokounmpo become a shareholder and say: “We [sic] all on Kalshi now” is a major branding coup for the firm that, despite its popularity, is fighting multiple legal battles against state regulators.
Antetokounmpo is already cheerleading for the firm, saying in the news release he loves the brand’s markets, and that “Kalshi is going to be a winner and I’m excited to be getting involved.”
Kalshi CEO Tarek Mansour said his firm “couldn’t be happier” with the NBA star’s investment, stating: “He’s exactly the type of long-term partner we want to align our growing brand with.”
