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LeBron James Next Team betting markets have so far generated over $200 million just on Kalshi.
Now comes word LeBron might not be making a decision until some time in August.
The hottest market on Kalshi is one the NBA doesn’t think should exist. It doesn't involve a particular game or championship futures market.
Prediction markets have thus far amassed over $245M in trading volume on where LeBron James will play next, including more than $200M “alone on Kalshi,” according to Rick Maese of the Washington Post. Gambling911.com has verified that the LeBron Next Team market ranked among the most traded Thursday, albeit there wasn't a whole lot of big sporting events taking place on this day.
James is not the first athlete whose free agency has become tradable, but his prolonged decision has “pushed the practice into a new frontier, turning a private personnel choice into a market with the scale and volatility more commonly associated with a presidential election or championship game.”
Traders also can put money on whether James “will announce his decision before Sunday; which conference he will join; whether his next contract will be worth more than $12.5 million; and even who will break the news of his landing spot.”
Currently, BetOnline has the Miami Heat and Cleveland Cavaliers as top favorites to land LeBron James.
Sportsbooks and prediction markets alike might be able to generate a whole lot more revenue on this market as LeBron reportedly won't make his decision until some time in August. James was reportedly irked following comments made by NBA Commissioner Adam Silver.
“I would like him to make his announcement already, so he can finish the schedule. Because as you might imagine, the teams are calling us, the networks are calling us, and everybody wants to lock in the schedule. But it will influence how we set the schedule, how we set opening week, Christmas Day, etc,” Silver said.
92.3 The Fan Cleveland's Andy Baskin revealed "'Irritated' was the word I was told, by the commissioner pushing them...so they decided to hold back."
- Tony Caliente, Gambling911.com
