Haliburton won't require surgery and is expected to make a full recovery, the team said Tuesday night.
Haliburton needed help leaving the court after sustaining the injury in Sunday night's victory over the Dallas Mavericks.
He has had an outstanding rookie season, averaging 13 points, 5.3 assists and 1.5 steals. His numbers have increased significantly since De'Aaron Fox was sidelined when he was placed in the league's health and safety protocols -- averaging 18.5 points and nine assists.
Haliburton was the 12th overall pick in the 2020 NBA draft out of Iowa State.