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LeBron James announced on Saturday that he is working with Polymarket, six weeks after gamblers traded $273 million of contracts on where he would sign.
The Philadelphia 76ers forward posted a 14-second video on X and Instagram at 8.30am Eastern time. It shows him in an elevator at what the clip labels Polymarket HQ, with buttons for sports, politics, crypto, the economy, culture, weather, esports and technology. He presses sports. The screen cuts to the company logo and the words coming soon.
"Welcome to Polymarket HQ. Coming soon," James wrote. "In partnership with @Polymarket."
Polymarket reposted it within the hour, replying "thanks for swinging by our HQ" with a goat emoji.
What James will actually do has not been disclosed, and neither has what he is being paid. A person familiar with the arrangement told CNBC the campaign will centre on American football, with details expected this week. A Polymarket spokesperson said the company wants to draw on his interest in the sport as the season starts.
He is the first NBA player to announce an individual partnership with Polymarket. Giannis Antetokounmpo, the golfer Bryson DeChambeau and Lionel Messi signed with the rival platform Kalshi earlier this year, and the NHL and Major League Baseball have both struck deals with prediction market operators.
The size of the market in James himself is documented. Contracts tied to his free agency decision changed hands to the value of $273 million across prediction market platforms when he chose Philadelphia, according to Legal Sports Report.
That creates a question the announcement does not answer. NBA rules restrict players from holding financial interests in companies offering wagering or comparable products on league games, including limits on ownership. Whether those rules apply depends on whether James is an advertiser, an ambassador or an investor, and nobody has said which.
Polymarket is under pressure on several fronts. It faces regulatory and legal scrutiny in the United States over sports event contracts, is rebuilding its marketing operation under new leadership before the autumn calendar, and has been reported to be raising $1 billion.
The response from his own audience was hostile. Replies to the post ran heavily against it, several noting that he does not need the money.
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