Giannis Antetokounmpo Becomes Kalshi Shareholder as Prediction Markets Expand

Milwaukee Bucks star Giannis Antetokounmpo has entered the prediction markets space by becoming a shareholder in Kalshi. 

Antetokounmpo confirmed the deal on X, noting that the internet was full of opinions and that he had decided it was time to make some of his own, making him the first active basketball player to become a company shareholder. 

The agreement included his participation in marketing initiatives and live event appearances tied to the platform's broader growth strategy. In a release, Chief Executive Tarek Mansour described adding Antetokounmpo as a long-term partner aligned with Kalshi's brand ambitions.

The announcement followed weeks of trade-related wagering activity centered on Antetokounmpo's status in the NBA. Before the NBA trade deadline, more than $23 million was wagered on whether he would be traded. 

Kalshi said Antetokounmpo would be barred from trading on any NBA-related markets to avoid conflicts of interest, a restriction reflecting his role as an active player. The company noted that, while he could not trade on outcomes tied to his own league, public speculation about his career had already driven substantial volume on prediction market apps.

Kalshi's download surge

The visibility from Antetokounmpo's partnership coincided with a surge in Kalshi's consumer reach ahead of the Super Bowl, particularly in mobile adoption. In January, Kalshi recorded 3 million app downloads, more than four times the total for DraftKings or FanDuel during their prime growth periods, according to Apptopia data. 

For DraftKings, it saw over 650,000 downloads in January, while FanDuel saw just under 620,000, while also reporting 3.5 million active monthly users in its most recent earnings disclosure.

The contrast marked a sharp change from August, when football season began, during which Kalshi logged less than one-third the number of downloads as the established gambling platforms. The data showed an industry still in its infancy, with Kalshi accelerating from the reported 121,000 downloads in August, while FanDuel and DraftKings reported just over 733,000. 

Polymarket, its main competitor, had operated primarily overseas and only recently re-entered the US. It trails both Kalshi and traditional sportsbooks in download counts.

Kalshi began offering sports event contracts only weeks before last year's Super Bowl, and its ability to offer them nationwide, even in states where sports wagering is prohibited, has exhilarated its growth. 

Industry projections indicated that $1.76 billion would be wagered on traditional sportsbooks for the Super Bowl, but prediction markets were expanding faster. H2 Gambling Capital analyst Ed Birkin estimated that prediction markets would attract $630 million in Super Bowl bets and drive 80% of year-over-year wagering growth for the event.

Both DraftKings and FanDuel have launched prediction markets as they seek to retain customers and expand into states without legalized online sports betting. However, in January, DraftKings Predictions received 81,000 downloads while FanDuel Predicts saw 18,000 downloads, with both companies seeing their stocks fall over the past few months.