Palmer is part of the Reese's College All-Star Game while Watson is a part of the Big Ten team that will play in a 32-team, winner-take-all 3-on-3 tournament.
Palmer will play in Friday's Reese's College All-Star Game. The contest will be played at US Bank Stadium, and will be televised live on CBS Sports Network at 3:30 p.m.
The game features "20 of the most outstanding senior players in NCAA Division I" according to a news release.
Palmer averaged 19.7 points per game this season, third in the Big Ten behind Purdue's Carsen Edwards and Penn State's Lamar Stevens.