NHL becomes first major U.S. league to partner with prediction markets Kalshi and Polymarket

The National Hockey League (NHL) has struck a multi-year licensing agreement with prediction market platforms Kalshi and Polymarket, becoming the first major U.S. sports league to partner with event trading firms.

The agreement grants Kalshi and Polymarket access to official NHL data, marks, and logos, enabling their brokers and merchants to integrate league assets across platforms and products. 

Both firms will gain brand visibility during NHL broadcasts, including through Digitally Enhanced Dasherboards and virtual signage on the blue line during marquee events such as the Winter Classic, Stadium Series, and Stanley Cup playoffs.

Tarek Mansour, Kalshi’s co-founder and chief executive, called the partnership a “seminal moment” for prediction markets. “A league like the NHL partnering with us is a strong sign that prediction markets are here to stay,” he told CNBC.

Mansour said teaming up with the NHL is “an important milestone for Kalshi and the industry at large,” adding that it validates the company’s years-long effort to build “the right set of customer protection and market integrity measures to protect our markets, but also the game.” He suggested more partnerships could follow, saying, “Be on the lookout for more announcements soon.”

Keith Wachtel, president of NHL Business, said the collaboration offers an opportunity to broaden fan engagement. “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,” he said. “Polymarket and Kalshi are ideal partners as this category continues to grow and expand.”

Wachtel told CNBC that the league sees potential for cross-selling between sports and entertainment markets. “What’s great about prediction markets is that it goes beyond sport. It gives an opportunity to watch a different audience grow significantly,” he said.

Polymarket chief executive Shayne Coplan said the company aims to extend the league’s appeal through interactive engagement. “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,” he said.

Following the announcement, Kalshi highlighted an NHL event contract on its website, with nearly $980,000 traded on the 2026 Stanley Cup champions market. Polymarket offered three event contracts on that night’s games, including a Montreal–Calgary matchup that drew more than $683,000 in trading volume.

Kalshi and other event trading platforms are regulated by the U.S. Commodity Futures Trading Commission (CFTC) but face pushback from state and tribal regulators who argue they amount to unregulated gambling. Multiple state and federal lawsuits are ongoing over their legality.

The American Gaming Association (AGA) criticized the NHL deal, saying it “sends a troubling message.” “The platforms in question fail to comply with essential standards,” the group said. “Worse, they are currently offering sports wagers in all 50 states to anyone 18 years of age—some of which have not authorized any form of legal sports betting and those that have largely define 21 as the prevailing legal age for wagering.”

The NFL has previously warned that prediction contracts could lead to “price distortions” without stricter oversight, while Major League Baseball has urged the CFTC to establish a stronger integrity framework for sports event contracts.

The move comes amid growing convergence between sports betting and event trading. Earlier this week, DraftKings announced its acquisition of Railbird Technologies, owner of a CFTC-designated exchange, underscoring the increasing interest of regulated sportsbooks in the prediction market space.