Just like Giannis Antetokounmpo’s trade offers dominate the headlines, his business move also follows the same suit. Be it launching his eighth signature shoe with Nike or his controversial investment with Kalshi. The latter has attracted interest for all the wrong reasons.

Post trade deadline, the Greek Freak announced being a shareholder in Kalshi, which is not a sports book but allows users to trade on the outcomes of real-world events. In order to boost their user base, the $11 billion brand would sponsor top aggregator accounts on X. But the Elon Musk-owned social media application brought an end to this practice.

X updated its paid partnerships policy to prohibit promotional deals with accounts that post gambling and sports betting content. So, the apparent aggregator accounts had their Kalshi “badges” removed from accounts on Monday evening. Kalshi spokesperson confirmed the move to Front Office Sports. “People loved the badges and it was a fun way to engage the community, but it became too difficult to police, and people often confused badged accounts with Kalshi-endorsed messages.”

This was a real issue, as many fake and parody sports insiders who were actively spreading misinformation gained a lot of attention. While Giannis Antetokounmpo has invested in a growing brand, the surrounding controversy dilutes the Bucks star’s reputation.

Unlike a sports book, Kalshi is a federally regulated prediction market. But in the sporting sense, fans can still put their money on the outcome of any sport, including the NBA, just like a sports book. That’s why questions were raised about this partnership. But Commissioner Adam Silver was not worried about Antetokounmpo’s investment.

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“So we are currently looking at prediction markets essentially in the same way that we’re looking at sports betting companies,” said Silver during NBA All-Star media day. “That means their investment cannot amount to over 1%.” He would call the Bucks star’s investment “minuscule” and “much smaller than 1%,” according to the collectively bargained policy with the Players Association.

Legally, it may not be a problem now. But morally, a player involved with a brand that would ask users to predict future scenarios does lead to questions surrounding the integrity of the league. Sports journalist Joon Lee stated the minuscule amount that Giannis Antetokounmpo reportedly invested.

“Adam Silver calls Giannis’s investment in Kalshi “minuscule” and “much smaller than 1%” Kalshi is worth $11 Billion. Giannis is allowed to own up to 1% under NBA rules. 1% of Kalshi is worth $110,000,000. 0.5% of Kalshi is worth $55,000,000.” This is not a small amount, nor is the controversy around the brand.

Another issue brewing for Giannis Antetokounmpo and Kalshi

While the NBA might not have a problem yet, the NCAA does. They formally demanded that the prediction market company Kalshi remove the phrase “March Madness” and other NCAA trademarks from its platform after determining they were being used without permission. The NCAA stated the issue is not only trademark ownership but public perception.

“The NCAA has previously addressed issues with Kalshi illegitimately using NCAA marks for their offerings. This continues to be a misrepresentation of any NCAA involvement, and we have requested immediate removal of NCAA trademarks.” NCAA president Charlie Baker was very direct in condemning Kalshi.

“The NCAA vehemently opposes college sports prediction markets.” According to gambling insider Dustin Gouker, examples of the wording still appeared on parts of the site as of February 21, 2026. The NCAA is clearly upset, and the fans also are not convinced of Giannis Antetokounmpo’s investment.