Caitlyn Jenner Calls Nike's Dylan Mulvaney Partnership 'An Outrage'

Caitlyn Jenner is furious with Nike over its new endorsement deal with Dylan Mulvaney ... saying the sneaker giant is going "so woke" by throwing money at the trans influencer, but not Olympic hero Allyson Felix.

The former decathlete weighed in on the social media star's partnership with the Swoosh on Thursday ... and her issue isn't with Mulvaney -- she actually commends Dylan for securing the bag.

Instead, Jenner is pissed at the move because Felix -- a seven-time Olympic gold medalist -- claimed Nike offered her a 70% pay cut and denied her requests for maternity protections after she got pregnant in 2017. She let her contract expire, and she went on to sign with Athleta.

Jenner is using Felix's experience to get her take across ... saying, "As someone that grew up in awe of what Phil Knight did, it is a shame to see such an iconic American company go so woke!"

"We can be inclusive but not at the expense of the mass majority of people, and have some decency while being inclusive. This is an outrage."

It's worth noting -- it's unclear how much Mulvaney is making from the deal ... but as someone who has close to two million followers on Instagram alone, you can assume she got a solid chunk of change.

Jenner isn't the only Olympian fuming over Mulvaney's deal -- silver medalist Sharron Davies called for folks to boycott Nike ... labeling it "a kick in the teeth" to women.