More Perfect Union is criticizing LeBron James for taking a Polymarket sponsorship that would reportedly pay more than his actual salary for playing professional basketball.
Here's what to know
In an Instagram post, More Perfect Union (@PerfectUnion) focused on James' decision to sign with the gambling platform.
The outlet framed the deal as something larger than a sports-business transaction, saying it spotlights James' loyalties and legacy. Over the course of his decadeslong professional basketball career, James has accumulated more than $1 billion in wealth.
Front Office Sports reported that the Polymarket deal pays $15 million per year. It's worth noting, however, that James took a lower salary over the summer to join a contending team — lower than any season since his rookie year of 2003-04. His base salary for the upcoming NBA season with the Philadelphia 76ers is $3.9 million.
Still, regardless of which venture pays him more this year, as the More Perfect Union video points out, James' endorsement can go a long way toward legitimizing whatever product appears alongside his name.
More background
The criticism comes as online gambling spreads rapidly across sports and social media.
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The video also covered the ways in which so-called "prediction markets" circumvent rules and regulations established to rein in companies for gambling on sports. According to More Perfect Union, by classifying themselves as prediction sites rather than gambling sites, these companies have avoided paying more than half a billion dollars in state taxes.
Even when platforms market themselves as entertainment, critics have warned that gambling sites can come with serious downsides. They expose people who use them to predatory designs and relentless advertising. And this significant financial risk is accessible 24/7 from a mobile phone.
From More Perfect Union's perspective, James' decision to join Polymarket as a paid spokesperson "raises awkward questions about his financial position" and runs the risk of "tarnishing the legacy" of a player considered one of the all-time greats. The outlet questioned why someone already worth more than $1 billion would take such a deal.
"How much money do these people need!?" exclaimed one Instagram commenter.
"I'm old enough to remember when you could get banished from professional sports for gambling," chimed in another.
Where can I learn more?
Assisted by celebrity endorsements and betting culture, gambling and sports business are intersecting more and more.
• In federal court, a sports betting influencer admitted to paying for inside information about NBA games.
• Across social media, nonstop gambling ads keep zeroing in on young men as prime customers.
• Major sports leagues increasingly face sportswashing through sponsorship deals that critics say buy public legitimacy.
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