The National Hockey League (NHL) has given so-called “prediction” gambling platforms Kalshi and Polymarket their most significant sports endorsement yet.
The NHL on Wednesday announced “multiyear U.S. agreements” with Polymarket and Kalshi, naming both companies as “official prediction market partners.”
The league deployed the reckless and harmful euphemism “predicting” to refer to “yes/no” gambling. These rival websites/apps enable users aged 18+ to buy and sell contracts based on a sports outcome. Analogues to moneylines, spreads, props, and parlays are available, depending on the platform.
Many users don’t understand the risks. Factoring in fees, the average return for Kalshi users is negative 22%, according to a paper published in 2025 from researchers at University College Dublin.
The NHL’s decision came as numerous states with legal sports betting have accused “prediction”-style betting of being a form of illegal sports gambling. Gambling is regulated at the state level.
The Commodity Futures Trading Commission has essentially enabled prediction platforms to offer sports betting nationwide under the guise of “contract markets.” States have argued that it’s a way to circumvent their regulation of gambling.
Terms of the NHL Deal with Kalshi and Polymarket
Under the partnerships, Kalshi and Polymarket can access official NHL proprietary data and rights to use NHL marks, logos, and official designations on their platforms and products.
Logos and marks will make prediction gambling platforms seem safer.
Kalshi’s and Polymarket’s brokers and merchants, such as the controversial stock and cryptocurrency app Robinhood, will also be able to use NHL marks and logos to identify the Polymarket and Kalshi products that they make available.
Both companies will receive brand exposure via “digitally enhanced dasherboards” and “blue line slot virtual signage” on NHL game broadcasts. This includes the regular season and playoffs.
What the Parties are Saying
Keith Wachtel, President, NHL Business:
“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. Polymarket and Kalshi are ideal partners as this category continues to grow and expand.”
Shayne Coplan, Founder and CEO of Polymarket:
“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 recognizing the future of fan experiences and benefits from engagement with prediction markets.”
Tarek Mansour, CEO of Kalshi:
“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.”
Casino Industry Responds: ‘Deeply Troubling’
The American Gaming Association put out the following statement following the NHL’s announcement.
“Today’s announcement that the NHL is partnering with Kalshi and Polymarket—prediction market platforms that currently offer sports-based contracts to consumers in all 50 states—is deeply troubling. These companies operate entirely outside the legal sports betting framework established by states, tribal governments, and federal law. In doing so, they threaten the integrity of sports and the protections in place for consumers.
Let’s be clear: Kalshi and Polymarket are offering sports wagers without any of the consumer protections or integrity standards required of licensed operators. They lack fundamental safeguards such as responsible gaming tools and anti-money laundering controls. They’re offering sports betting to anyone 18+, where the vast majority of legal U.S. states require individuals to be 21 to wager. And lastly, they’re not accountable to any state regulator or tribal authority—and that should alarm every stakeholder in the sports ecosystem.
This partnership isn’t just disappointing—it’s dangerous. It risks misleading fans into thinking these platforms offer the same protections and legal clarity as licensed sportsbooks. They do not. In fact, the legal status of these platforms under federal law is far from settled. The Commodity Futures Trading Commission (CFTC) has yet to fully review these sports contracts, and serious questions remain about whether they comply with longstanding prohibitions on gaming under the Commodity Exchange Act. There are no fewer than a half dozen courts in the U.S. considering these questions. Multiple state regulatory bodies have deemed these platforms to be illegal.
And if the NHL took the time to consider these arguments, they’d quickly realize that the attorneys general in 15 of their 19 home markets in the U.S. filed an amicus brief in the Third Circuit case, noting that ‘eliminating the States’ ability to regulate online sports betting would pose very serious risks to the States’ citizens.'”
What’s at Stake
The NHL announcement came just a day after DraftKings announced its planned entry into the “prediction” space. DraftKings said it will have a new mobile app in the coming months.
The gambling operator is expected to offer a prediction-style product in states where it doesn’t currently offer online sports betting. DraftKings said it will also allow users to gamble on pop culture events.
Online gambling, on sports and other so-called “real-world events,” is poised for another period of explosive growth. Americans lost about $22.1 billion to state-sanctioned online casinos and sportsbooks in 2024.
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