Kawhi Leonard Trade Market: All Signs Point to Raptors Move Still Happening

The Kawhi Leonard saga is finally coming to an end, and Kalshi’s NBA next team market leans heavier than ever on his price of being traded to the Toronto Raptors. The trade was initially put on hold after the league investigated the Los Angeles Clippers for paying Leonard beyond the salary cap through a third-party endorsement deal.

The NBA’s investigation recently showed no evidence that circumvention of the salary cap was in play between the Clippers and Leonard. Following the report, Leonard’s price surged to 90% of landing with the Raptors. He had a 61% price at the end of July.

Kawhi Leonard Next Team - Kalshi

Toronto Raptors 90%
Los Angeles Clippers 7%

Kalshi settles the market on October 21 based on which team Leonard is with by then. A $10 trade on Leonard landing with the Raptors profits $1.03.

No evidence

In a report from ESPN, the NBA has found no evidence that Los Angeles Clippers owner Steve Ballmer surpassed the salary cap in order to pay Kawhi Leonard beyond his contract.

The allegations came when the league looked into Leonard’s four-year, $28 million endorsement deal with green banking company Aspiration, which has since filed for bankruptcy. The same company also inked a 23-year, $300 million deal with the Clippers organization as a whole.

The investigation has since moved on to whether the Clippers introducing Leonard to Aspiration violates any NBA rules or not.

The trade on hold

On June 30, the Los Angeles Clippers agreed to trade Kawhi Leonard to the Toronto Raptors in exchange for Brandon Ingram, Gradey Dick, two unprotected first-round picks, a pick swap, and two second-round picks.

Toronto opted to hold off on the trade until the league’s investigation into the Clippers concluded. With the investigation into Leonard’s involvement with Aspiration winding down, the completed trade could go through sooner rather than later.

Leonard is coming off a 2025-26 season where he averaged 27.9 points, 6.4 rebounds, and 3.6 assists. In his lone season with the Toronto Raptors in 2018-19, he put up 26.6 points, 7.3 rebounds, and 3.3 assists, leading them to the organization's first NBA Championship and winning the NBA Finals MVP.

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