NHL Launches Prediction Markets with Kalshi and Polymarket
The NHL has signed multiyear licensing agreements with Kalshi and Polymarket prediction markets, marking the first time a major US sports league allows official NHL trademarks—including team names, logos and terms such as “Stanley Cup”—outside traditional sportsbooks. Kalshi, regulated by the CFTC, can offer markets in all 50 states, while Polymarket, a blockchain-based platform backed by a $2 billion ICE investment, brings decentralized finance to sports betting. These NHL prediction markets deals position Kalshi and Polymarket as direct competitors to DraftKings and FanDuel. After the announcement, shares of Flutter Entertainment and DraftKings fell amid investor concerns over lost market share. The NHL prediction markets partnership reflects a strategic push into event-based derivatives to boost fan engagement and open new revenue streams. Long term, this move could accelerate institutional acceptance of decentralized finance products, increase on-chain trading volumes, and reshape the sports betting landscape.
Bullish
This licensing news is bullish for the cryptocurrency-based prediction market sector. In the short term, it will likely drive higher trading volumes on Polymarket’s blockchain platform as new NHL-themed markets attract both sports and crypto enthusiasts. Kalshi’s CFTC-regulated offering may similarly draw institutional interest, boosting liquidity and market activity. Over the long term, official adoption of NHL trademarks by prediction markets legitimizes decentralized finance in mainstream sports. This could pave the way for more major-league partnerships, institutional capital inflows, and broader DeFi integration, supporting sustained growth and higher valuations for related crypto platforms.