NHL Strikes Licensing Deal with Kalshi and Polymarket
The National Hockey League (NHL) has established new, multi-year licensing agreements in the U.S. with prediction market startups Kalshi and Polymarket. Under the terms of the deal, both companies become official prediction market partners of the league. The NHL is the first major professional sports league in the U.S. to allow prediction markets to use its official trademarks.
New Partners Gain Data and Branding Access
The agreements grant Kalshi and Polymarket rights to promote their offerings. The platforms can now officially use the NHL logo, terms like “Stanley Cup,” and the names of individual teams. Previously, some platforms avoided using proprietary league names, instead using generic phrases like “Pro football champion.”
Both partners also gain access to official proprietary NHL data. The deals include extensive brand exposure during NHL game broadcasts. This exposure will appear on Digitally Enhanced Dasherboards (DED) and virtual signage along the blue line during regular season games, the Stanley Cup Playoffs, and key events like the NHL Winter Classic.
Keith Wachtel, NHL’s President of Business, stated that prediction markets are “here to stay.” He believes the partnership will help the league expand its fan base by engaging with tech-savvy prediction market users.
Regulatory Fight Over Event Contracts
The NHL’s move into this space highlights the legal and business tension between prediction markets and traditional sportsbooks like DraftKings and FanDuel. Prediction market startups offer “event contracts” that functionally resemble sports wagers.
Kalshi argues that its markets are solely regulated by the federal Commodity Futures Trading Commission (CFTC), not state gaming laws. This status lets Kalshi offer event contracts in all 50 states, even where standard sports betting is restricted.
This interpretation is being challenged, as several state gaming commissions argue Kalshi violates state law. Bill Miller, President of the American Gaming Association (AGA), called the NHL agreements “deeply concerning.” Miller cited legal proceedings in multiple states that have determined these platforms to be illegal under state gaming statutes, casting uncertainty on the platforms’ future.
For Polymarket, the full scope of the agreement is currently unclear, as its U.S. entity has not fully launched following a 2022 settlement with the CFTC. However, the company plans to list markets on sports and elections. NHL Business President Wachtel noted the league sees both companies as ideal partners as the category “continues to grow and expand.”
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