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NBA Rumors: New CBA Allows Players to Invest in Teams, Sports Betting, Cannabis

Paul KasabianApr 1, 2023

The new collective bargaining agreement between the NBA and NBPA, which was approved Friday, will reportedly allow players to make some brand-new investments, per Shams Charania of Stadium and The Athletic:

Those investments signal a seismic shift in the professional sports landscape, where marijuana was outlawed for years and sports betting was seen as a mortal sin.

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But the legalization of both in the United States has led to a changing of times.

Marijuana has notably been removed from the NBA's anti-drug testing program as part of the new CBA, per Charania:

DraftKings and FanDuel have previously been named as the NBA's official sports betting partners as of Nov. 2021.

The new CBA will run through 2029-30 unless either side opts out after 2028-29. The agreement also includes the introduction of an in-season tournament, positionless All-NBA teams and a new luxury-tax level.