The longer it takes, the worse it gets for the Los Angeles Clippers on Kawhi Leonard's next team market on Kalsi. While the Toronto Raptors remain favored to land Leonard, their price to do so continues to fall.
Since July 15, Toronto’s price has decreased from 80% to 61%, while the Clippers' price has surged from 19% to 34%. Kalshi’s October 21st, 2026, deadline to grade the market also got an update with the ongoing investigation into the trade rumored to drag into 2027.
Kawhi Leonard Next Team - Kalshi
- Toronto Raptors 61%
- Stays with Los Angeles Clippers or Retires 34%
A $10 trade profits $5.01 if Leonard is traded to the Raptors by October 21st and $18.08 if he is still with the Clippers by then.
At a standstill
Since the agreed upon trade sending Leonard back to the Toronto Raptors was put on hold on July 9, no other major updates have arisen, with the investigation still going on. The Executive Director of the NBPA, David Kelly, though, did say that he has not heard of any findings through the investigation that are worth any punishment.
The ongoing investigation by the outside council Wachtell Lipton is now rumored to drag on into 2027 against NBA Commissioner Adam Silver’s wishes. Silver told reporters that the investigation “needs to be wrapped up before the beginning of next season.” He also expressed that it has gone on longer than he expected.
The investigation at a glance
On June 30, the Los Angeles Clippers and Toronto Raptors agreed to a trade that would send Leonard to the Toronto Raptors in exchange for Brandon Ingram, Gradey Dick, two unprotected first-round picks (2031, 2033), a 2027 first-round pick swap, and two second-round picks.
The trade was put on pause following the investigation into the Clippers' alleged circumvention of the NBA’s salary cap. Leonard signed a $28 million endorsement deal with green banking company, Aspiration, which has since gone bankrupt. The same company also had a 23-year, $300 million endorsement deal with the Clippers organization as a whole.
With rumors of the investigation panning out into 2027, it puts the October 21st deadline for Kalshi to grade the market in favor of Toronto at risk.
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