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Milwaukee Bucks star Giannis Antetokounmpo has been a supporter of the platform Market forecasts Kalshimarking the first time an NBA player has invested directly in a contract exchange platform linked to a state-run event.
Key points:
- Giannis Antetokounmpo has become the first NBA player to invest directly in the Kalshi market platform.
- Kalshi provides contracts for “yes or no” government-run events in sports, politics and entertainment.
- The deal comes in the wake of a growing scrutiny of the line between stock markets and sports betting.
The two-time American League Most Valuable Player announced the deal on Friday, saying he will join the … Kalshi As a shareholder, he will collaborate with the company on live events and promotions.
I confirmed Kalshi The agreement is in the sentenceadding that Antokounmpo will not be allowed to trade in any markets related to the American League due to internal rules that prohibit insider trading and market manipulation.
Inside the prediction markets Kalshi “Yes or No” system
Change it Kalshi A market that allows users to trade “yes or no” contracts based on the outcome of real events.
The platform includes markets related to politics, entertainment and sports, which allows traders to take positions on events such as prize winners or the results of competitions.
Earlier this week, the platform had a market for Antetokounmpo to be traded before the MLS deadline.
Although coins are traded, the platform is considered a financial exchange rather than a sports betting activity.
Therefore, they are allowedKalshi Operating in the United States under government supervision, it avoids violating anti-gambling laws that apply to traditional bookmakers.
The MLS team’s collective bargaining agreement allows players to go to the bookies in certain cases, as long as they do not announce bets on MLS, Women’s League or G League games. Players are also allowed to have negative ownership of up to 1% in such companies. Antetokounmpo’s earnings fall within this range.
“I like to win,” Antokounmpo said. It’s clear to me Kalshi “He’s going to be a winner and I’m happy to be a part of it.”
He is not the first basketball player to be associated with the company. Phoenix Suns star Kevin Durant is said to be an indirect investor through the venture capital fund 35V, which he founded with his partner Rich Klieman.
The move comes amid increased scrutiny of sports betting. US authorities have recently filed gambling charges against several basketball players, and regulators are investigating a growing number of… Trading platforms It’s a betting market.
The National Collegiate Athletic Association (NCAA) asked Kalshi Changing the wording on its website that indicates an official relationship with the organization.
Kalshi His presence in the game was expanded through a partnership with the National Hockey League and player endorsements
Despite this interest, I continued Kalshi Expanding its presence in the sports field.
The company announced a partnership with the National Hockey League (NHL) in October, and in January, signed golfer Bryson DeChambeau as its first athlete endorsement, including appearances and promotions tied to the events he participates in.
it’s done Kalshi Also a great success in television after signing a contract with CNN, becoming a partner in the Internet market, and closing a deal worth $1 billion at a cost of $11 billion.
Web3 Forecast sales exceeded $13 billion in sales growth, setting a new record as the market fell. Digital currency Far away.
The conference has attracted the attention of major players in technology and finance, including Fanatics, Coinbase and MetaMask, all of which have recently launched or expanded their trading platforms.
A note NBA star Giannis Antetokounmpo becomes an affiliate of Kalshi Prospects Market appeared for the first time Cryptonews Arabic.
