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Read Full BioPrediction market platforms Kalshi and Polymarket have secured multi-year partnerships with the NHL to use its licensed trademarks and display company branding across league assets.
The NHL announced the deal in a press release with the President of NHL Business, Keith Wachtel, heaping praise on the two companies that have faced a litany of legal challenges and opposition from major sporting organizations.
Wachtel stated, “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 and Kalshi are ideal partners as this category continues to grow and expand.”
The deal allows the companies to use NHL logos, trademarked terms such as NHL, Stanley Cup, and names of individual teams. In addition, both companies will also receive brand exposure via Digitally Enhanced Dasherboards (DED) and blue line slot virtual signage on NHL game broadcasts.
This includes regular-season games, the playoffs, the NHL Winter Classic, and the NHL Stadium Series national broadcasts. Studies have shown that gambling messages are already frequently included in NHL coverage, with this year’s Stanley Cup featuring a gambling ad or logo once every 13 seconds.
Important Milestone for Prediction Markets
The NHL is the first major sporting organization to make an official deal with prediction markets. Previously, Kalshi announced a deal with the Pro Pickleball Association. While the racket sport has been gaining popularity, it does not have the same stature as the NHL.
Kalshi CEO Tarek Mansour stated, “Teaming up with the NHL is an important milestone for Kalshi and the industry at large. To have a league like the NHL embrace Kalshi is a testament to the integrity, safety, and trust with consumers that Kalshi has spent years building during our time pioneering this asset class. It should be clear now – prediction markets are here to stay.”
Other sporting leagues have been less encouraging of prediction markets. The NBA and MLB both sent letters to the Commodity Futures Trading Commission (CFTC) over concerns about the risk prediction markets pose to the integrity of the leagues.
Additionally, the NFL warned players and staff that it considers prediction markets gambling under its strict betting rules. Kalshi and Polymarket hope the partnership with the NHL alleviates some concerns and validates the markets, which claim legality in all 50 states.
Polymarket Prepares to Go Mainstream
Polymarket was previously outlawed across the US, but is set to relaunch in the country. The FBI and CFTC ended their investigation over claims that the platform was still accepting US users without a valid license.
After the investigation ended with no charges earlier this year, the company acquired the CFTC-licensed exchange QCEX, paving the way for reentry to the US.
The platform then attracted interest from investors. CEO Shayne Coplan became the youngest self-made billionaire after the New York Stock Exchange’s owner, Intercontinental Exchange, invested $2 billion in the platform.
The deal with the NHL marks another step in the platform’s validation. Coplan commented, “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.
“Together, we’re making the game more interactive and connected, and we appreciate the support of the NHL in recognizing that the future of fan experiences benefits from engagement with prediction markets.”
Sportsbooks Getting Involved in Prediction Market Boom
While state regulators continue to protest the sports markets offered by these companies, it seems an increasingly futile battle. DraftKings and FanDuel, keen not to miss out on the recent boom of the platforms, have also made moves to enter the space.
FanDuel partnered with CME earlier this year, and the exchange announced plans to launch sports markets this week. DraftKings, meanwhile, announced a long-rumored deal with Railbird, which the CFTC also licenses.
States have warned licensed operators about launching prediction markets or partnering with the platforms. Still, if other leagues follow the NHL in legitimizing the industry, they will struggle to stop the continued expansion.
