Kalshi bets $10m+ on boxer Canelo to win Spanish-speaking users

Álvarez joins as both ambassador & equity holder, Forbes reports, citing an unnamed source.

The hit

Kalshi has reportedly parted with more than $10m in equity to sign boxer Canelo Álvarez as an ambassador & investor, according to a source cited by Forbes. The prediction markets platform is said to be using the deal to expand its reach among Spanish-speaking users.

Why it matters

For traders, the move signals Kalshi is willing to spend heavily on star power to grow beyond its existing base. An equity stake tied to a global sports figure suggests the platform sees long-term brand value, not just a one-off sponsorship, in reaching new audiences.

The record

Equity reportedly given to Álvarez	$10m+ (source cited by Forbes)
Álvarez’s new role	Ambassador & investor (Forbes)
Stated goal	Expand Kalshi’s Spanish-speaking user base (Forbes)

What happens next

Watch for Kalshi to confirm deal terms & whether Álvarez appears in marketing aimed at Spanish-speaking markets in the US & Latin America.

Sources: Canelo Álvarez Partners With Kalshi As An Ambassador And Investor

18+. Betting involves risk. If gambling is a problem for you or someone close to you, help is available.