Milwaukee Bucks forward Giannis Antetokounmpo announced Friday that he has joined prediction market Calci as a shareholder, becoming the first NBA player to invest directly in the company.
“The internet is full of opinions, and I’ve decided it’s time to form my own,” the two-time NBA MVP said in a social media post. “Today, I joined Kalsi as a shareholder. Now we are all in Kalsi.”
The announcement was not well received on social media. For example, on Reddit, one user described this as “literally a conflict of interest,” another described Kalsi as “cancerous,” and yet another wondered, “Is that even allowed?”
According to a reporter for The Athletic, the NBA’s recent collective bargaining agreement allows players to advertise and take up to 1% stake in sports betting companies as long as they are not promoting league-related betting.
Carusi said he will partner with Antetokounmpo on marketing and live events, and that he will not be allowed to trade in NBA-related markets under the company’s “strict terms of service that prohibit insider trading and market manipulation.”
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