Born in Des Moines, Iowa, Matt did not go far from home to start his basketball career. Transferring to the University of Iowa from the University of Colorado following his sophomore year, Bullard was a standout in his home state, averaging 12.7 points per game over his college career and representing the U.S. in the World University Games in 1987 and 1989.

Bullard worked his way onto the 1990 Houston Rockets. He played 11 NBA seasons, including nine for the Rockets, where he was part of their 1993-94 NBA Championship season. Bullard set a Houston Rocket franchise record in three-point percentage by shooting .446 during the 1999-2000 season.

Bullard is the Houston Rockets color analyst for Fox Sports Houston.  He also does the Rockets Power Hour on Sports Radio 610. He and his wife Paula have a daughter, Sara and a son, AJ. Bullard is an avid fisherman and enjoys playing the drums.