NHL inks deals with prediction markets Polymarket and Kalshi
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The news: The US National Hockey League has become the first major US sports league to sign a deal with the prediction market platforms Polymarket and Kalshi, adding pressure to traditional betting firms.
The context: By entering the agreements, the NHL becomes the first major US professional sports league to allow the use of its trademarks, logos and designations across the prediction markets’ platforms and products. Both companies will benefit from on-screen exposure during the NHL’s national broadcasts which include Stanley Cup Playoffs and the Winter Classic.
The multi-year deals were announced by the NHL after they were first reported by the WSJ. Terms of the deal were not disclosed.
Polymarket and Kalshi allow users to buy and sell contracts tied to the outcome of events under the supervision of the US Commodity Futures Trading Commission, meaning they can operate across all 50 US states rather than being limited to states in which sports betting is legalised.
Earlier this month, the New York Stock Exchange’s parent company, Intercontinental Exchange, agreed to invest USD2 billion ($3.03 billion) into Polymarket to enhance the platform’s credibility and re-establish its US presence.
What they 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,” said Keith Wachtel, president, NHL Business. “Polymarket and Kalshi are ideal partners as this category continues to grow and expand.”
