NHL Opens Door to Prediction Markets in Landmark Deals With Kalshi, Polymarket: WSJ

Why It Matters

The agreements put both firms in direct competition with sportsbooks such as DraftKings and FanDuel, have pressured gambling stocks, and signal a broader league embrace of event‑derivatives that could reshape access and regulation in restricted betting markets.

Summary

The NHL struck multiyear licensing deals with prediction‑market platforms Kalshi and Polymarket, the first time a major U.S. sports league has authorized its logos, team names and terms like “Stanley Cup” for non‑sportsbook trading. Kalshi’s CFTC‑regulated model can offer contracts nationwide, while Polymarket — now backed by a reported $2 billion investment from ICE — is preparing a U.S. relaunch despite prior regulatory hurdles. The agreements put both firms in direct competition with sportsbooks such as DraftKings and FanDuel, have pressured gambling stocks, and signal a broader league embrace of event‑derivatives that could reshape access and regulation in restricted betting markets.