TL;DR
- The NHL signed multiyear agreements with Kalshi and Polymarket, becoming the first major U.S. professional league to allow the use of its branding.
- The contracts authorize the use of logos, team names, and terms like “Stanley Cup,” and provide exposure during national broadcasts such as the playoffs and the Winter Classic.
- Kalshi and Polymarket will compete directly with traditional sportsbooks.
The NHL signed multiyear licensing agreements with the prediction market platforms Kalshi and Polymarket, becoming the first major U.S. professional league to permit the use of its brand by platforms outside the traditional sportsbook industry.
The agreements allow both companies to use logos, team names, and terms like “Stanley Cup” on their platforms, where users can buy and sell contracts linked to sporting outcomes under regulatory oversight.
Kalshi and Polymarket Start from Different Bases
Kalshi and Polymarket will compete directly with traditional sportsbooks like DraftKings, FanDuel, and BetMGM. Kalshi operates under CFTC regulation, allowing it to offer contracts across all 50 states, including those where online sports betting is restricted. Polymarket, which operates on blockchain technology, faces other regulatory limitations in the U.S. but aims to relaunch with the necessary institutional backing after receiving a $2 billion investment from the Intercontinental Exchange.
The agreements include presence and exposure during national broadcasts, such as the Stanley Cup playoffs and the Winter Classic, strengthening the platforms’ visibility to millions of viewers. The NHL already holds similar licenses with DraftKings, FanDuel, and BetMGM, but this is the first time such access has been extended to prediction markets, marking a historic shift for the market and the brands.
Concerns Among Regulators and Traditional Casinos
Prediction markets have gained significant popularity recently, driven by political contracts during the 2024 U.S. presidential election and their performance in sporting outcomes. Platforms like Kalshi and Polymarket have attracted thousands of users seeking to bet on multiple results.
The expansion of prediction markets has raised concerns among state regulators and casino operators, who warn that these platforms could bypass local betting laws. Following the announcements, shares of traditional operators like Flutter Entertainment (FanDuel) and DraftKings dropped, reflecting investor concerns about the impact of prediction markets on sportsbook participation.
Kalshi and Polymarket are making history, setting a precedent for how the competitive sports world can create a new market through blockchain technology
