Never claimed to be smarter than Wikipedia or anyone else for that matter. I just tend to look at things in a shade of grey as opposed to black and white like a dictionary does.
If "Basketball Cards" are the commodity or service, then what are Upper Deck products like Fleer Retro, 11/12 Exquisite as well as Leaf Signature Series cards? Whilst they may not be NBA licensed, they sure are priced like they are, and they sure sell like they are, and these people who are buying Retro etc are possibly doing so instead of buying a Panini product, so the "exclusive control of the supply or trade" isnt really 100% accurate.
And if you are going to go to the next level and look at purely "NBA licensed" basketball cards, then Panini definitely does not have exclusive possession of anything except the current rights to supply the commodity. The exclusive possession of the actual supply of the commodity rests solely with the NBA, so if the NBA wants to take that right away from Panini, then Panini cannot do anything about it. Holding exclusive rights for something, especially for such a limited time, does not instantly give you monopoly status, as I cannot think of any other monopoly where that status can simply be taken away from them by someone, which is totally different to a new competitor entering the market.
Now obviously the NBA is a business and they want to ensure their brand is represented in the best possible way at all times, so if it becomes apparent that Panini is taking the shape of all other monopolies world wide (ie high prices, bad service, bad product etc) then I would be positive that the NBA would be quick to act, but given the resurgence in cards in general (I am absolutely NOT saying that Panini can take credit for this in any way) then the NBA will likely take a "If its not broken dont fix it" attitude and leave things the way they are. So in other words Panini still needs to make a positive impression on the NBA to keep its current position intact, again not many monopolies are put in this position.