NHL Jumps into Prediction Markets with Kalshi, Polymarket — a First for a Major US League

ESPN, NHL, CNBC, Bloomberg, and New York Post contributed to this report.

The NHL just made a bold play in the betting world, inking multiyear deals with prediction-market platforms Kalshi and Polymarket. It’s the first time a major US pro league has officially partnered with this kind of marketplace, where fans trade yes/no contracts on outcomes — including who’ll hoist the Stanley Cup.

What’s in it for everyone? Kalshi and Polymarket get access to official NHL data, marks, and logos, plus on-screen exposure during national broadcasts (think the Stanley Cup Playoffs, Winter Classic, Stadium Series). In turn, the league gets a say in what markets go live — which the NHL says helps protect game integrity.

Unlike traditional sportsbooks such as DraftKings and FanDuel, prediction markets operate nationwide, including in states where sports betting isn’t legal. Kalshi even rolled out sports parlays last month and, after the deal dropped, listed contracts on the Stanley Cup champion alongside other pro titles.

Not everyone’s cheering. The American Gaming Association blasted the move as “deeply concerning,” calling prediction markets “backdoor gambling schemes” dressed up as financial products. Kalshi is also fighting state-level lawsuits that claim it’s skirting betting laws; the company says it’s regulated by the CFTC, a federal agency, and therefore outside state jurisdiction. Earlier this year, the NBA, NFL, and MLB urged the CFTC to scrutinize sports-related markets over integrity risks.

The NHL’s take: this broadens the pie rather than cannibalizing sportsbooks.

“The handle in sports is growing for the sportsbooks,” said NHL business chief Keith Wachtel. “We believe the rising tide is lifting all boats.”

He also argued that partnering directly with platforms like Kalshi and Polymarket lets the league shape markets and tighten safeguards.

Meanwhile, sportsbooks are edging in. FanDuel and DraftKings have been positioning to enter the prediction space, and the CFTC-regulated exchange model is gaining heat across Wall Street and Silicon Valley.

Or, as Kalshi CEO Tarek Mansour put it:

“Prediction markets are here to stay.”