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On October 22, the National Hockey League (NHL) announced groundbreaking licensing agreements with Kalshi and Polymarket, making it the first major North American sports league to embrace prediction markets.
As part of the agreement, the NHL will grant both platforms access to its proprietary data and allow them to use official NHL logos and branding on their products. This move sets the NHL apart, as many other leagues have previously sided with sports betting operators to oppose these markets.
“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, who serves as president of NHL Business. “Polymarket and Kalshi are ideal partners as this category continues to grow and expand.”
Both companies to receive brand exposure
Kalshi and Polymarket are set to gain significant brand exposure through their partnership with the NHL. The two prediction markets will have their branding featured prominently via Digitally Enhanced Dashboards and blue line slot virtual signage during various NHL game broadcasts. This includes high-profile events such as the NHL Winter Classic, the NHL Stadium Series, and the Stanley Cup playoffs.
Additionally, brokers and merchants associated with Kalshi and Polymarket will have the opportunity to use NHL logos and marks to identify the products they offer.
Shayne Coplan, Polymarket founder and CEO, said: “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 recognising the future of fan experiences benefits from engagement with prediction markets.”
A major twist in the prediction market scene
Since coming into the sports limelight late last year, prediction market platforms like Kalshi have been the talk of the town. From receiving cease-and-desist letters in over six states to completing a $300 million funding round, it’s been nothing but chaos for Kalshi and the industry.
The partnership comes at a crucial time when the industry is at odds with major leagues, state regulators, and sports betting operators. It shows that even with the scrutiny these platforms are facing, several stakeholders still see their massive potential and are willing to invest.
Even the big sportsbooks are making moves into the market, with DraftKings confirming the acquisition of Railbird Exchange earlier this week, and Flutter partnering with CME Group. The coming months will prove interesting, as we are likely to see the outcomes of several court cases involving Kalshi and know whether more leagues and sports brands will decide to embrace prediction markets.
Tarek Mansour, Kalshi CEO, also spoke on the landmark deal, stating,
“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.”
Source: NEXT.io
