The National Hockey League (NHL) has become the first major North American sports league to officially partner with prediction market platforms Kalshi and Polymarket, marking a historic step in how professional leagues engage with fans and data-driven markets.
Announced Wednesday, the multi-year licensing agreement gives the two platforms access to official NHL data, marks, and logos. In exchange, the league receives new customer protection measures and visibility across prediction market audiences.
Tarek Mansour, co-founder and CEO of Kalshi, called the agreement a “seminal moment” for the industry, saying, “A league like the NHL partnering with us is a strong sign that prediction markets are here to stay.” Mansour also hinted that similar partnerships with other sports leagues may soon follow.
Expanding Fan Engagement Through Digital Platforms
Under the deal, both Kalshi and Polymarket will gain brand exposure across NHL broadcasts, including Digitally Enhanced Dasherboards and virtual signage during marquee events such as the Winter Classic, Stadium Series, and Stanley Cup Playoffs.
The partnership aims to reach audiences beyond traditional sportsbooks. Keith Wachtel, NHL Business President, said, “As prediction markets continue to evolve at a rapid pace, partnering with the two market leaders, Kalshi and Polymarket, provides a tremendous opportunity for the broadest fan engagement during the NHL season.”
Following the announcement, Kalshi featured a 2026 Stanley Cup prediction contract prominently on its platform, attracting nearly $980,000 in trading volume. The Carolina Hurricanes and Edmonton Oilers opened as co-favorites with 12% odds, while the Florida Panthers followed at 11%.
Polymarket also introduced NHL-related contracts, including an all-Canadian matchup between Montreal and Calgary, which drew more than $683,000 in trades. “The NHL has always been about giving fans an incredible experience. We’re excited to bring that energy to Polymarket, where fans can engage with the NHL and its teams in a new way,” said Polymarket CEO Shayne Coplan.
Wachtel noted the partnership could lead to cross-engagement opportunities—allowing users to trade on entertainment or cultural outcomes alongside hockey predictions.
Critics Question Regulatory Oversight
Despite the NHL’s optimism, the deal has sparked pushback. The American Gaming Association (AGA) called the partnership “a troubling message,” arguing that “the platforms in question fail to comply with essential standards.” The group warned that such operators offer sports wagers in all 50 states, including those where betting is illegal or restricted to individuals aged 21 and older.
Prediction markets like Kalshi and Polymarket are regulated by the Commodity Futures Trading Commission (CFTC) rather than state gambling agencies, which has fueled ongoing disputes. Several states, including Ohio and Massachusetts, have launched legal actions accusing Kalshi of operating as an unlicensed sportsbook. Meanwhile, Polymarket only recently received CFTC approval to resume U.S. operations after a three-year hiatus.
Industry Implications Beyond the Ice
While the NFL, NBA, and MLB have not yet followed suit—some voicing caution about “price distortions” and regulatory gray areas—the NHL’s move could accelerate broader industry acceptance. For now, the partnership signals a major step in merging regulated event trading with professional sports branding, reshaping how fans interact with the games they love.
Source:
“NHL strikes first-ever deal with prediction markets Kalshi and Polymarket”, cnbc.com, October 22, 2025
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