The NHL took a major leap in legitimizing the impact of prediction markets in the U.S.
The professional hockey league announced a U.S. multi-year marketing agreement on Wednesday with Kalshi and Polymarket, the two world’s largest contract trading exchanges, making them the official predication market partners of the NHL.
Key Takeaways
- The NHL’s agreement with Kalshi and Polymarket is the first of its kind with a major professional sports league.
- The partnership will give the two prediction market platforms brand exposure in arenas and on hockey broadcasts.
- The deal is a U.S. agreement only.
“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,” said Keith Wachtel, president of NHL business. “Polymarket and Kalshi are ideal partners as this category continues to grow and expand.”
A new era
This landmark deal is the first of its kind between a major sports league and a prediction market platform, which will lead to exposure on a grander scale. Polymarket has yet to re-launch in the U.S. since losing regulation three years ago, but this partnership is a sign that the global platform is getting close.
Kalshi has become a popular trading exchange since the 2024 Presidential Election, and it expanded to sports contracts in 2025. The company also has a partnership with Robinhood, a massive U.S. trading exchange that offers Kalshi’s sports markets.
"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 Tarek Mansour, CEO of Kalshi. "It should be clear now – prediction markets are here to stay.”
Brand exposure
NHL fans in the U.S. can expect to see these two prediction markets prominently displayed in arenas for the first time as well. With the partnership, Kalshi and Polymarket will receive branding on digital dashboards and blue line slot virtual signage during broadcasts. This will include regular-season games, Stanley Cup Playoffs games, and NHL Winter Classic and NHL Stadium Series contests.
Kalshi, Polymarket, and their brokers and merchants also receive the rights to use NHL marks, logos and official designations as part of their marketing campaigns.
“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,” said Shayne Coplan, Founder and CEO of Polymarket. “Together, we're making the game more interactive and connected, and we appreciate the support of the NHL in recognizing the future of fan experiences benefits from engagement with prediction markets."
Looming issues
Kalshi currently offers sport event outcome contracts on leagues like the NHL, NFL, MLB, NBA, and more in 50 U.S. states.
Kalshi is now the Official Prediction Market Partner of the @NHL
— Kalshi (@Kalshi) October 22, 2025
A Big 4 league. A first-of-its-kind partnership.
The start of a new era. pic.twitter.com/bw1rA15kOe
The federally regulated platform has become legally entangled in recent months with state-regulated sports betting jurisdictions. This includes several states with NHL teams, including Nevada, New Jersey, Ohio, and Massachusetts, where lawsuits are still pending.
The argument against Kalshi is that it offers sports contracts that are similar to betting markets users find at legal U.S. sportsbooks. Kalshi has expanded its offerings to include spreads, totals, player props, and parlays in recent weeks, not just futures and event outcome trading, giving it more of a sportsbook feel.
To add another potential conflicting element, the NHL has multiple sportsbook partners that compete with Kalshi, including FanDuel, DraftKings, ESPN BET, and BetMGM.
