LeBron James is reportedly earning $15 million annually from a sponsorship deal with Polymarket, a prediction market. This figure is nearly four times the $8 million, two-year contract he signed with the Philadelphia 76ers.
The deal places James in a position to promote football-related events on Polymarket, an arrangement permitted by the NBA as long as it does not involve basketball-related prediction markets. James' previous contracts with the NBA have consistently paid him over $10 million per season since 2006.
Polymarket, along with similar platforms like Kalshi, identifies itself as a prediction market or exchange rather than a sportsbook. These platforms operate under the federal jurisdiction of the Commodity Futures Trading Commission (CFTC) and are not subject to state-by-state gambling regulations. This allows them to access markets in states where sports gambling is illegal and potentially accept users under the age of 21, which is typically the minimum age for licensed sportsbooks.
James has previously expressed concerns about the impact of sports gambling on the integrity of games. In 2023, he noted how some fans seemed to focus primarily on betting parlays, suggesting it detracted from the appreciation of the sport itself. He acknowledged that betting on games has a long history but observed that it has become increasingly legalized across many states.
The sponsorship has also drawn attention due to James' past criticisms of former President Donald Trump. Donald Trump Jr., who sits on Polymarket's board, has been a vocal critic of James on social media. James, in turn, has previously referred to Donald Trump as a 'bum'.
James was recently featured in a Polymarket advertisement alongside other notable figures including Spike Lee, Reggie Bush, Richard Sherman, Derek Jeter, Sue Bird, and Eli Manning. While a Polymarket spokesperson declined to comment on the specifics of the contract, James' agent, Rich Paul, did not immediately respond to requests for comment.