To say the Baltimore Bullet is running hot is an understatement as he has just broken Mark Spitz's record to win eight gold medals at the recent Olympics in Beijing, taking his overall Olympic tally of gold to 14 - you can thrown in two bronze medals as well - and he is still only 23!
And after commenting that he thought it would be 'cool' to play in the WSOP, he is now being offered the chance - on this side of the pond at least.
He certainly has become in demand on the poker scene after also recently being invited to take part in the Asian Poker Tour, as well as in the commercial world where his offers have 'increased exponentially' according to his agent Peter Carlisle, who appeared on CNBC last week.
Phelps also broke seven world records with his success in China and his prowess in the pool has been referred to something like a fish, but whether that analogy is transferred on to the felt remains to be seen.
Certainly he will have to be at the top of his game if he is to walk away from the Casino at the Empire in London with the coveted bracelet, as there will be plenty of sharks in the field looking to cut him down to size.
Celebrities have of course long-tried their hands at the game with the likes of Ben Affleck, Jennifer Tilly, Shannon Elizabeth and snooker legend Steve Davis doing pretty well for themselves, so he certainly is not the first, and is unlikely to be the last.
His links with poker, whether he plays or not, can only be good for the game in general as well, and he may well turn out to be a champion on the baize. His biggest problem is likely to be finding the time to fit everything in, as he is arguably the most sought-after man on the planet, although maybe Usain Bolt would argue that one.
