Giannis Antetokounmpo in Kalshi? “Small investment,” replies the NBA

Sports betting companies and prediction markets, the same battle in the eyes of the league. During his annual All-Star Weekend press conference, Adam Silver was asked about it surprising investment from Giannis Antetokounmpo in Kalshi, competitive predictive market de Polimarket ou Myriad.

The question was whether the league was shaken several scandals related to sports bettinghe is worried about this kind of share. In his answer, the head of the NBA reminds that the players, within the collective agreement with the union of the latter, are authorized to implement ” smaller investments » in betting shops.

And that ” we now apply this same rule to predictive markets “, adds the “commissioner”, reminding that their participation cannot exceed 1% of the shares of these companies. gold, ” in Giannis’ case, as far as I know, it is a small investment, well below that threshold. Therefore, it does not in any way violate the rules agreed with the players’ union », assures Adam Silver.

So much for the existing regulatory framework within the Major Leagues, while across the country, prediction markets are not considered betting companies under the very flexible legislation of the United States, but financial trading platforms. Although developing…

Comb the web

« The situation is changing rapidly: prediction markets have recently established themselves as real platforms for massive sports betting. In my opinion, the survival of this model, in its current form, will ultimately be decided by the courts and Congress » imagines Adam Silver, undoubtedly in reference with engaged arm wrestling in some states that want to treat these prediction markets as betting companies.

« Even if these platforms were to disappear, the league already has to deal with 40 different jurisdictions that have legalized sports betting in the United States, not to mention the huge illegal market that remains. Another aspect that is often overlooked is the international scale: there are about 80 countries outside the United States where it is already legal to bet on the NBA “, continues the manager.

The latter thus says that he is more concerned about the scale of the sports betting phenomenon, which should be monitored as a whole. The NBA already works with specialized companies like Sportradar whose technologies enable ” comb the web to catch every exchange, both legal and illegal markets, to detect any abnormal behavior ».

goal, as he already saidbe to protect” integrity » league, undermined by these recent scandals.