Lebron James Teases Polymarket Deal as Prediction Market Hype Explodes

LeBron James Teases Polymarket Partnership

“Welcome to Polymarket HQ. Coming soon,” James wrote on X. “In partnership with Polymarket,” the famous basketball player added. The video shows James in an elevator, and instead of choosing numbered floors, the elevator’s buttons show choices like “politics,” “crypto,” “sports,” “economy,” “culture,” and more. The NBA legend, who recently signed with the Philadelphia 76ers, chose “sports” and walked into a busy office-like room.

The hinted partnership with James comes as Polymarket and other prediction market leaders like Kalshi have skyrocketed in popularity. Over the last two years, prediction markets have moved beyond election betting to covering nearly everything with great fervor. Both Polymarket and Kalshi are no longer startups and are billion-dollar firms, and LeBron’s Saturday tease sits at the intersection of this fast-paced, up-and-coming trend.

Prediction Markets Turn Into a Multi-Billion-Dollar Juggernaut

Out of a total of nine prediction markets, Dune Analytics data shows the group saw a total of $49.9 billion in notional volume in June due to the World Cup games. Kalshi and Polymarket led the pack of nine by a majority, and in July, the group logged a notional volume of $56.4 billion, according to Dune Analytics metrics. While the World Cup was over, August still managed to see $50.7 billion in notional volume across the sector. Sports betting has become a massive part of the prediction marketplace demand equation.

LeBron’s name is no stranger in the prediction market world, as millions of dollars were bet on which team he would sign with after leaving the L.A. Lakers. When Bitcoin.com News reported on the matter, more than $80 million in volume was recorded on wagers betting on LeBron’s next team choice. As far as crypto is concerned, James and the LeBron James Family Foundation signed a multi-year partnership with Crypto.com back in 2022.

When that partnership was announced four years ago, LeBron said that “blockchain technology is revolutionizing our economy, sports and entertainment, the art world, and how we engage with one another.” The latest deal with Polymarket indicates he seems to believe the same about prediction markets and the innovations they bring.

LeBron’s Polymarket Tease Sparks a Bit of Backlash

On Saturday, when James posted the video, Polymarket’s X account replied back by saying “thanks for swinging by our HQ” with a goat emoji next to the HQ. At the time of writing, the X post James published with the video has 3,900 likes and 2,400 re-posts.

However, there was also backlash over James’ choice of partner, with some critical X posts drawing far more likes and even ratioing the NBA star’s original post.

“Don’t do this Bron,” one X user said, which also accrued 11,000 likes. Another disgruntled X user shared their two cents and said, “Man, this country is fuuuu-uuuu**ed. Gambling, porn, and all kinds of unproductive addictions.”