NHL Becomes First Major U.S. Sports League to Partner with Prediction Markets Kalshi and Polymarket

The National Hockey League (NHL) has announced landmark multi-year agreements with prediction market platforms Kalshi and Polymarket, designating them as official prediction market partners. This move marks the first time a major U.S. professional sports league has officially entered into such partnerships, signaling a significant shift in sports engagement and the evolving landscape of sports-related forecasting. The deals grant both platforms access to official NHL proprietary data and the rights to use league marks, logos, and official designations.

The partnership allows Polymarket, a crypto-powered prediction platform, to offer real-money forecasting opportunities to its users. According to a social media post by Mario Nawfal, "Polymarket users can now trade outcomes with no fees, no house, and no limits... backed by the full weight of the NHL." This highlights the platform's decentralized model, which differentiates it from traditional sportsbooks by enabling peer-to-peer trading on event outcomes.

These prediction markets, including Polymarket, operate under regulation by the U.S. Commodity Futures Trading Commission (CFTC) as futures exchanges, allowing them to offer contracts in all 50 U.S. states, including those where traditional sports betting remains illegal. This regulatory framework has led to scrutiny from state gambling regulators and traditional sports betting groups, who argue that these platforms mimic sports betting and sidestep state laws. The American Gaming Association (AGA) characterized the NHL's actions as "deeply concerning."

Despite regulatory debates, NHL Business President Keith Wachtel expressed confidence in the partnerships. He stated that "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." Polymarket CEO Shayne Coplan echoed this sentiment, emphasizing the goal to make the game "more interactive and connected."

The agreements also include brand exposure for Kalshi and Polymarket through Digitally Enhanced Dasherboards and blue line slot virtual signage during NHL game broadcasts, encompassing regular-season national games, Stanley Cup Playoffs, and other major events. This collaboration positions prediction markets as a growing force in the sports industry, potentially influencing how other major leagues approach fan engagement and the integration of emerging technologies.