LeBron James begins his first season with the Philadelphia 76ers this year, but that's not the only new partnership for the veteran forward.
Last month, James announced an endorsement deal with Polymarket, one of the leading prediction markets in the industry. The partnership came with a level of scrutiny, as many consider prediction markets under the same umbrella as sports gambling.
Taking it a step further, many people compared James' new deal with Polymarket to his new contract with the 76ers, especially since his deal with Philadelphia is well below market value. James has certainly made his fair share of millions in the NBA, making it so he was not looking for the richest contract possible during free agency.
Every move that James makes comes with an extra level of scrutiny considering his stature in the NBA, but that's especially the case for his endorsement deals. Here's a deeper look at James' contract with Polymarket.
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LeBron Polymarket contract, explained
On September 8, LeBron James announced on social media that he became the latest athlete to partner with the prediction market Polymarket.
James joining Polymarket brought scrutiny, considering he is an active NBA player, but he and the company are not partnering for basketball. Instead, Polymarket told Front Office Sports that James will "focus on football," which is similar to the deal that James had with DraftKings for the previous two years.
Additionally, James is getting a reported $15 million per year as part of this endorsement deal. That means that James is getting over $11 million more this year from Polymarket than he is making with the 76ers, as his entire Philadelphia contract is worth $8 million over the next two seasons.
While the NFL and PGA Tour were among the sports leagues banning players from partnering with prediction markets, the NBA has no such rules. Besides James and Polymarket, Giannis Antetokounmpo and Kyle Kuzma have partnered with Kalshi, a Polymarket rival.
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