The growing presence of prediction markets, platforms where users trade contracts based on the outcome of future events, has stirred major debate across professional sports.
While some leagues have warmed to the idea, the National Football League (NFL) has made it clear: its players are not permitted to hold ownership interests in prediction-market companies.
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This issue came into the spotlight recently when NBA superstar Giannis Antetokounmpo announced he had become a shareholder in Kalshi, a leading prediction-market platform.
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Kalshi allows users to essentially bet on a wide variety of outcomes, from political elections to entertainment events and sports results.
Antetokounmpo‘s investment raised an obvious question: could NFL players do the same? The answer, according to league officials, is a firm no.
NFL spokesman Brian McCarthy confirmed that players in the league are barred from owning equity in companies like Kalshi.
“NFL players may not own a stake,” McCarthy told reporters, emphasizing that ownership rights in prediction markets fall outside the boundaries established by the league’s policies.
While NBA players can legally invest in such platforms, the NFL maintains stricter rules designed to prevent even the perception of conflicts of interest or influence over betting markets.
Why the NFL draws a line
The NFL‘s strict stance reflects the league’s broader approach to gambling and sports integrity.
Unlike other leagues, NFL players are prohibited from wagering on games, using intermediaries, or engaging in financial ventures that might intersect with their professional responsibilities.
Prediction markets, even when operated under strict oversight like Kalshi, resemble traditional betting and therefore trigger these prohibitions.
Kalshi itself has protections in place. The company bans participants from trading on markets related to their own sport, and it uses systems like IC360 to detect connections between users and the sports industry.
These measures are meant to prevent conflicts of interest and insider trading. However, the NFL has decided that even these safeguards are not sufficient for its players, reflecting the league’s ongoing concern with maintaining the integrity of the game.
The league has also taken steps beyond player restrictions to prevent prediction market influence. This includes prohibiting prediction market advertising during major broadcasts such as the Super Bowl, putting these platforms in the same category as banned ads for tobacco or weapons.
In contrast, NBA players like Antetokounmpo can invest in prediction markets as long as they follow league rules.
It shows a key difference in how professional sports leagues approach the intersection of gambling, finance, and player freedom.
For the NFL, the line is clear: ownership of prediction market companies remains off-limits, ensuring players cannot have a financial stake in markets that could potentially relate to the league’s games or outcomes.
The NFL‘s cautious stance shows a commitment to protecting the integrity of the game, even as other leagues explore new opportunities for players to engage with emerging financial markets.
