Boxing superstar Saúl “Canelo” Álvarez has partnered with Kalshi, a rapidly growing prediction market, as both an ambassador and investor. Kalshi, known for tapping prominent athletes like Bryson DeChambeau and Giannis Antetokounmpo to boost its profile, is leveraging Álvarez's rags-to-riches story in its latest advertising campaign. His endorsement will also be visible during his upcoming super-middleweight title bout against Christian Mbilli in Riyadh, Saudi Arabia. While Álvarez is selective about brand partnerships due to his focus on building his own business ventures, he was drawn to Kalshi’s market leadership and growth potential.

The agreement is a multiyear deal that includes Álvarez converting his compensation into equity, with sources telling Forbes his stake is currently valued at over $10 million. Kalshi, which was founded in 2018 by Forbes 30 Under 30 alums Tarek Mansour and Luana Lopes Lara, has seen a rapid increase in valuation from $11 billion in December 2025 to about $40 billion in 2026 amid record trading volumes. This partnership aligns with Kalshi’s strategy to expand into the boxing fan base and Spanish-speaking markets, an area it has actively targeted by launching a Spanish version of its app and partnering during global sporting events.

For Kalshi, Álvarez offers more than just a celebrity endorsement; he is deeply interested in the company’s growth and actively involved as an investor. The platform has seen a 40% increase in boxing-related trading volumes since May 2025, driven partly by the sport’s shift away from pay-per-view to streaming platforms like Netflix and Paramount+. Kalshi’s leadership views boxing as an opportunity to engage a passionate fan base, especially Spanish speakers, a demographic that made up about 12% of its users and showed growth during the recent World Cup.

Despite its expansion, Kalshi faces ongoing legal challenges in several U.S. states, including New York, Utah, and Wisconsin, where authorities allege the company operates illegal gambling markets. The company argues that its peer-to-peer prediction platform should be regulated as a financial exchange under the Commodity Futures Trading Commission rather than as gambling. Kalshi highlights the free-market, competitive nature of its business model as aligning well with Álvarez’s values and boxing’s individualistic spirit, making the partnership a strategic fit amid a complex regulatory landscape.