Prediction markets’ push into sports isn’t stopping – it’s getting stronger. In a landmark agreement, the NHL announced Wednesday it has become the first major professional sports league to partner with prediction markets companies Kalshi and Polymarket.
“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,” President of NHL Business Keith Wachtel said in a release. “Polymarket and Kalshi are ideal partners as this category continues to grow and expand.”
This news comes on the heels of DraftKings’ purchase of Railbird, a federally licensed exchange company. DraftKings plans to launch a separate predictions app, DraftKings Predictions, in the coming months.
When asked about the NHL agreement, Kalshi CEO Tarek Mansour said via press release, “It should be clear now — prediction markets are here to stay.”
The NHL already has licensing brand deals with DraftKings, FanDuel and BetMGM as do most professional sports leagues. The league became the first to cross over to prediction markets.
The agreement allows the two prediction markets to use the NHL name, as well as team names and specific terms such as “Stanley Cup.” Previously, they referred to the league as “pro hockey.” They’ll also have access to team and league logos.
In exchange, the two companies will be featured in digital advertisements on the boards during television broadcasts for regular season games as well as playoff games and events such as the Winter Classic.
Kalshi has enjoyed record volumes in recent weeks thanks to the start of the NFL season as well as a partnership with the brokerage Robinhood. In the past, the NBA and MLB had written letters to the CFTC (Commodity Futures Trading Commission) about their concerns over the growth of prediction markets when it comes to sports betting. It seems like the tone is changing.
As we mentioned above, DraftKings has made business moves to enter the space. FanDuel also announced plans in August to eventually enter the predictions market through a partnership with derivatives exchange CME Group.
“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,” said Kalshi CEO Tarek Mansour.
Kalshi and Polymarket let users trade “contracts” tied to the outcome of specific events. The companies became popular thanks to the 2024 U.S. Presidential election, in which the market correctly predicted Donald Trump defeating Kamala Harris.
Other markets currently found on Kalshi include:
In recent months, there has been an influx of sports related markets. For example, you can buy contracts related to the “pro football champion” or the “amount of wins the Atlanta pro basketball team finishes with.”
The difference between these offerings and a sportsbook are that these prediction markets are viewed as an exchange and are regulated at the federal level.
Kalshi doesn’t operate as the “house.” Rather than taking a “vig” (sports betting lines are -110 because the “vig” is a $0.10 tax for taking the bet), Kalshi takes a 2% commission fee on contracts traded.
Prediction markets are available in all 50 states to anyone 18 years of age or older, though their legality is being challenged in the court system of seven states.
The states are not able to tax Kalshi, which is an issue when you consider the tax rates in states like New York for sports betting is at 51%.
Sportsbook operators are angry because these prediction markets can siphon their business without paying taxes. State officials are also angry because these companies can operate in states where sports betting isn’t legal.
Learn more about our gaming editorial staff.
If you have a gambling problem and are located in Pennsylvania, call 1-800-GAMBLER or contact the 24-hour helpline chat at https://www.pacouncil.com/chatline.
LiveChat with a GameSense Advisor at GameSenseMA.com or call 1-800-GAM-1234
If you purchase a product or register for an account through a link on our site, we may receive compensation. By using this site, you consent to our User Agreement and agree that your clicks, interactions, and personal information may be collected, recorded, and/or stored by us and social media and other third-party partners in accordance with our Privacy Policy.
Use of and/or registration on any portion of this site constitutes acceptance of our User Agreement, (updated 8/1/2024) and acknowledgement of our Privacy Policy, and Your Privacy Choices and Rights (updated 10/1/2025).
© 2025 Advance Local Media LLC. All rights reserved (About Us).
The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of Advance Local.
Community Rules apply to all content you upload or otherwise submit to this site.
YouTube's privacy policy is available here and YouTube's terms of service is available here.
Ad Choices
Hockey News