League Becomes First Major U.S. Sports Organization to Partner With Prediction Platforms
The National Hockey League announced multiyear partnerships Wednesday with prediction market companies Kalshi and Polymarket, marking the first time a major U.S. professional sports league has entered into agreements with such platforms. The deals highlight how prediction markets are reshaping the betting landscape and expanding beyond traditional sportsbooks.
Prediction markets like Kalshi and Polymarket allow users to trade on yes-or-no outcomes of real-world events, including sports results. Unlike sportsbooks such as FanDuel and DraftKings, these platforms operate legally across all 50 U.S. states, including those where sports betting remains prohibited, such as California and Texas. Kalshi recently added sports parlays to its offerings, further blurring the lines between prediction trading and sports wagering.
New Licensing and Data Access
Under the agreements, Kalshi and Polymarket gain rights to use the NHL’s official data, marks, logos, and event designations—similar to existing arrangements the league holds with licensed sportsbooks. Following the announcement, Kalshi began offering contracts on the Stanley Cup champion alongside those for the professional football and basketball champions.
“The handle in sports is growing for the sportsbooks,” said Keith Wachtel, president of NHL business operations. “We believe the rising tide is lifting all boats here.” He added that the league views prediction markets as complementary to traditional betting operators rather than competitors.
Regulatory and Integrity Concerns
Kalshi, which is regulated by the Commodity Futures Trading Commission (CFTC), is currently facing lawsuits from several state regulators who allege that its event contracts amount to unlicensed sports betting. Kalshi maintains that its platform is a federally regulated financial market, not subject to state gambling laws.
In recent months, the NBA, NFL, and MLB have voiced concerns to the CFTC about prediction markets and the need to safeguard sporting integrity. Wachtel said the NHL believes that formal partnerships provide the best path to ensure oversight. “As a league, we’ll be able to work with them on what markets they include in their endeavors,” he told ESPN. “That is much better for all of us—not just for the NHL, but all sports properties.”
Criticism From Gaming Industry Groups
The American Gaming Association (AGA), representing casinos and licensed sportsbooks, sharply criticized the NHL’s decision. In a statement to ESPN, AGA president and CEO Bill Miller called the move “deeply concerning,” describing Kalshi and Polymarket as “backdoor gambling schemes masquerading as financial products.”
“This move sends a troubling message: that integrity, responsibility, and clear legality are optional in sports gaming,” Miller said. “No professional league should lend its brand to companies operating in defiance of state law and consumer protection norms.”
Prediction Markets on the Rise
Despite the controversy, the NHL’s partnerships signal growing mainstream acceptance of prediction markets. Both FanDuel and DraftKings have recently explored entering the space, anticipating rapid expansion as demand for alternative wagering formats grows.
“It should be clear now—prediction markets are here to stay,” Kalshi CEO Tarek Mansour said in a statement following the announcement. Industry analysts say the NHL’s move could pave the way for other leagues to follow suit, potentially transforming the intersection of sports, data, and decentralized finance.
