NFL Won’t Allow Players to Invest in Prediction Markets

• NFL won’t allow players to invest in prediction markets
• League Office has already expressed concerns over the impact of prediction markets on the integrity of the game
• Ban arrived after news of NBA star Giannis Antetokounmpo investing in Kalshi broke

Unlike their counterparts in the NBA, NFL players will not be able to take financial stakes in prediction market operators.

NFL spokesman Brian McCarthy confirmed as much in an email to Pro Football Talk, which published an article on the matter the day before the Super Bowl. The article doesn’t elaborate on why the most popular domestic sports league is prohibiting its athletes from investing in prediction markets.

The piece was published a day after it was revealed Milwaukee Bucks star Giannis Antetokounmpo took a stake in Kalshi. It’s not clear if the NFL policy is in any way related to Antetokounmpo’s Kalshi stake, the amount of which wasn’t publicly revealed.

Kalshi said the two-time MVP will not be allowed to trade any NBA event contracts featured on the platform because he’s a current player. The prediction market bars athletes across various professional leagues from trading derivatives tied to their respective sports.

NFL Has Prediction Market Concerns

In another case of interesting timing, the Pro Football Talk article was released a day after DraftKings said its DraftKings Predictions unit is partnering with Crypto.com to offer player-specific event contracts tied to NFL and NBA players.

The 2025 NFL campaign concluded yesterday with the Super Bowl so potential issues via prediction market wagering aren’t necessarily a near-term concern for the league, but the league has previously voiced some concerns about yes/no platforms.

Not all professional leagues see things the same way. For example, the NHL has marketing deals with both Kalshi and Polymarket and Major League Soccer (MLS) recently announced a similar agreement with Polymarket.

Will the NFL Ban Itself from Prediction Markets Investments?

It’s not clear if the NFL is banning itself from investing in prediction markets and it’s a point worth pondering because the league has a sizeable financial stake in at least one company with ties to the regulated wagering industry.

Likewise, it’s also not yet apparent if the aforementioned prediction markets ban will be applied to the NFL Players Association (NFLPA) – the labor union representing the league’s athletes. The NFLPA has previously invested in some wagering-related entities as well.

League guidelines indicate owners can have up to 5% equity stakes in regulated sports betting companies, but it’s not yet known if those owners will be able to directly invest in companies like Kalshi and Polymarket.