NHL Partners with Prediction Markets Kalshi and Polymarket

The National Hockey League announced multiyear deals with prediction market operators Kalshi and Polymarket, marking it the first major US sports league to embrace this rising model. This move has attracted considerable institutional interest.

Key players involved in the agreement include consensus leaders such as NHL President Keith Wachtel and CEOs Tarek Mansour of Kalshi and Shayne Coplan of Polymarket. These platforms are set to transform fan engagements.

NHL’s Prediction Market Move Sparks Regulatory Concerns

The NHL’s partnership promotes broader fan engagement, but has raised regulatory concerns. The move has influenced institutional investments, with Kalshi‘s valuation exceeding $10 billion and Polymarket gaining a $2 billion stake from NYSE owner.

These deals place huge stakes on ETH and USDC due to Polymarket’s use of them for settlement. Regulators echo concerns about compliance and integrity, as stated by AGA’s Bill Miller, enhancing debates about legal and ethical ramifications.

Shifting from Sportsbooks to Prediction Platforms

Traditional sports leagues like the NHL have typically partnered with sportsbooks. This new embrace of federally regulated prediction platforms is unprecedented, contrasting with past alignments with FanDuel and DraftKings.

Experts predict the NHL’s involvement with prediction markets like Kalshi and Polymarket heralds broader industry convergence, potentially expanding the reach beyond crypto-native exchanges. This involvement highlights evolving alliances between sports and technology.

“Partnering with Kalshi and Polymarket provides a tremendous opportunity for the broadest fan engagement during the NHL season… Polymarket and Kalshi are ideal partners as this category continues to grow and expand.” — Keith Wachtel, President, NHL Business