The National Hockey League (NHL) has become the first major sports league in the U.S. to partner with a prediction market, announcing deals with both Kalshi and Polymarket.
As announced in a press release Wednesday morning, Kalshi and Polymarket will both be “official prediction market partners of the NHL,” allowing them to use NHL logos and other designations such as the term Stanley Cup, rather than generic phrases like “pro hockey champion.”
Both sites will also receive advertising space during game broadcasts.
“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,” NHL Business President Keith Wachtel said. “Polymarket and Kalshi are ideal partners as this category continues to grow and expand.”
First partnership on this level
The deal is a major step in terms of sports leagues’ willingness to accept the rise of prediction markets.
The NHL had previously stayed quiet about the rise of exchanges like Kalshi and Polymarket, but other sports leagues had expressed wariness about the new platforms.
In May, NBA Assistant General Counsel Alexandra Roth wrote a letter to the Commodity Futures Trading Commission (CFTC) warning that sports event contracts had grown rapidly without any kind of framework to detect or prevent match-fixing.
NationalBasketballAssociation050125-2Last month, NFL Vice President and Chief Compliance Officer Sabrina Perel said: “Our view is that these platforms mimic sports betting and that they are covered as prohibited conduct under our policy, and that will be for all of our personnel.”
Kalshi CEO Tarek Mansour noted that partnering with a major sports league was a breakthrough in establishing the legitimacy of platforms like his.
“Teaming up with the NHL is an important milestone for Kalshi and the industry at large,” he said. “To have a league like the NHL embrace Kalshi is a testament to the integrity, safety, and trust with consumers that Kalshi has spent years building during our time pioneering this asset class.
“It should be clear now — prediction markets are here to stay.”
The partnership also comes as traditional sports betting operators look to get involved in the world of prediction markets. On Tuesday, DraftKings revealed that it had acquired CFTC-registered prediction market Railbird.
Alongside the deal, DraftKings will launch DraftKings Predictions, a new mobile app that “will allow customers to trade regulated event contracts on real-world outcomes across finance, culture, and entertainment.” It did not specifically mention launching sports, but added that “its offering may expand into additional categories over time, deepening customer engagement and extending DraftKings’ addressable audience.”
In August, FanDuel announced its own plan to get involved in the space, via a partnership with CME. Like DraftKings, FanDuel’s prediction market offering is not expected to include sports from the get-go, but there may be options to expand the offering over time.
Polymarket yet to launch as shutdown drags on
Polymarket founder and CEO Shayne Coplan said that partnering with prediction markets was a way for leagues to further engage fans.
“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,” Coplan said. “Together, we’re making the game more interactive and connected, and we appreciate the support of the NHL in recognizing the future of fan experiences benefits from engagement with prediction markets.”
The partnership with Polymarket comes despite the fact the business has not yet launched its CFTC-registered U.S. site. The Polymarket site remains available to customers in the rest of the world.
The business appears to be close to launch, but cannot go live with any markets until the CFTC processes its self-certifications. The CFTC has put processing of self-certifications on hold until it returns to full activity.
As of press time Wednesday, Polymarket priced in a 62% chance that the U.S. government shutdown will be over by Nov. 15.
