LeBron James has announced a new partnership with the prediction market platform Polymarket, signaling a growing trend of athlete involvement in the burgeoning industry. The NBA superstar revealed the collaboration via a brief social media video, where he appeared to be at Polymarket's fictional headquarters.
While details remain sparse, a source told CNBC that the partnership is specifically focused on football. Polymarket indicated that further announcements are expected next week, with a statement to The Athletic suggesting an intent to leverage James's passion for the sport and expand the platform's reach to broader audiences as football season approaches.
This move makes James the first individual player to sign a deal with Polymarket. He joins a growing list of athletes venturing into prediction markets. Notably, fellow NBA star Giannis Antetokounmpo became a shareholder in Kalshi in February, and other athletes like Bryson DeChambeau, Kyle Kuzma, and Breanna Stewart have also become involved with Kalshi.
The trend extends beyond individual athletes, with sports leagues and teams increasingly engaging with prediction markets. The NHL established multiyear agreements with both Polymarket and Kalshi last October, designating them as the league's official prediction market partners. Several Major League Baseball teams have also formed agreements with Kalshi, and MLB itself named Polymarket as its official prediction market exchange in the spring.