The deal capped a busy day for Sacramento, which reportedly shipped guard Iman Shumpert to the Houston Rockets earlier in the evening as part of a three-way deal. The Rockets gave the Cavaliers Brandon Knight, Marquese Chriss, and a first-round lottery pick, in exchange for Nik Stauskas and Wade Baldwin.
This is the second reported move the Rockets have made before the 3 p.m. ET Thursday trade deadline. He led the Mavericks in scoring each of the past two seasons, averaging 19.2 points in 2016-17 and 18.9 points in 2017-18.
Houston acquired Knight, alongside Chriss, this offseason in a trade for Ryan Anderson. The Cavs acquired them from the Trail Blazers for Rodney Hood on Monday, and now they've been dealt twice in the last 24 hours.
The Cavaliers continue to stack up draft picks. Knight and Chriss will likely compete for playing time.More news: Jeff Bezos accuses National Enquirer owner of extortion over intimate texts, photos
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According to The Athletic's Shams Charania, the Kings will also be getting a second-round pick from Cleveland.
The 23-year-old Jackson has played in 52 games with three starts for the Mavericks this season, averaging 6.7 points per game.
Shumpert, 28, has had a strong season for the resurgent Kings, averaging 8.9 points, 3.1 rebounds and 2.2 assists.
Gerald Green added 25 from the bench while starters Eric Gordon (20) and Chris Paul (15) backed Harden with useful contributions.