The New York Times: The NBA lacks detailed regulations for on-chain prediction platforms; Giannis Antetokounmpo becoming a shareholder of Kalshi may fall into a gray area.

Because on-chain prediction platforms are an emerging field, the NBA currently lacks clear regulatory rules, placing it in a gray area. NBA Commissioner Adam Silver faces a significant challenge: is it illegal for star players to turn their transfers into financial products? It's reported that Giannis Antetokounmpo specifically chose to announce his ownership of the sports prediction platform Kalshi Sports after the trade deadline, when all betting odds were settled, thus avoiding direct compliance scrutiny during the trade period. Reportedly, Kalshi saw $23.31 million in bets on whether Antetokounmpo would leave before the deadline. The Milwaukee Bucks announced hours before the deadline that they would not trade Antetokounmpo this season. (The New York Times)