Giannis Antetokounmpo is facing intense scrutiny after announcing that he has become a shareholder in Kalshi, a prediction market platform, just one day after the NBA trade deadline passed without the Milwaukee Bucks moving him. The timing of the announcement, paired with weeks of heavy trade speculation, immediately sparked debate across the league and online, even though no rules appear to have been broken.
The Bucks chose to stand pat at the deadline despite widespread belief that Giannis was on the move. But once it was confirmed that he would at least stay until the end of the season, he posted a clip from The Wolf of Wall Street with the caption, “Legends don’t chase.”
Less than 24 hours later, Giannis added fuel to the conversation by revealing his new business venture.
“Everyone is online. The internet is full of opinions. I decided it was time to make some of my own,” he wrote, announcing that he had joined Kalshi as a shareholder.
Kalshi confirmed that Antetokounmpo is the first NBA player to invest directly in the company, with the partnership extending into marketing and live event initiatives.
That announcement quickly drew criticism, largely because Kalshi had been actively promoting prediction markets tied to Giannis’ trade odds in the days leading up to the deadline. While Kalshi has stated that Antetokounmpo is strictly prohibited from trading on any NBA-related markets, the optics were unavoidable.
Fans and analysts questioned whether a player being traded, while simultaneously investing in a platform offering markets on that very outcome, created a conflict of interest.
The scrutiny is amplified by the league’s recent gambling controversies. Former Toronto Raptors player Jontay Porter received a lifetime ban for betting-related violations, while Miami Heat guard Terry Rozier and Portland Trail Blazers head coach Chauncey Billups were arrested earlier this season and remain connected to an ongoing federal investigation into a broader gambling scheme.
Against that backdrop, Giannis’ investment, while legal, landed at a particularly sensitive moment.
This all unfolded as Giannis was linked to several teams ahead of the deadline, including the Miami Heat, Golden State Warriors, Minnesota Timberwolves, and Portland Trail Blazers. Portland was dismissed early due to a lack of mutual interest.
Miami reportedly presented the most balanced offer with picks and players, Minnesota created cap space while exploring a multi-team structure, and Golden State leaned on a pick-heavy proposal. None materialized.
Antetokounmpo, who is recovering from a calf strain, did nothing wrong by entering the partnership, and there is no indication of wrongdoing. Still, the episode highlights how modern superstar influence, business ventures, and betting-adjacent platforms can collide in uncomfortable ways.
With the NBA lacking clear guidelines on player involvement in prediction markets, Giannis’ move may force the league to address an issue that is only going to grow more complicated.
