- The NHL partnered with Polymarket and Kalshi to unlock new fan experiences and engagement.
- The partnership also provides a broader exposure for the prediction market platforms during NHL events.
The National Hockey League (NHL) announced on Wednesday that it has firmed up a partnership with Polymarket and Kalshi. The multiyear deal makes the two companies the official prediction market partners of the sporting organization.
NHL’s Partnership with Polymarket and Kalshi
The collaboration enables Polymarket and Kalshi to access official NHL proprietary data for the resolution of event contracts on their platforms. Additionally, the agreement grants them the rights to use the NHL’s marks, logos, and official designations. This benefit extends to brokers and merchants affiliated with the platforms, facilitating easier recognition by market participants.
Moreover, the deal expands the prediction market brands’ exposure. NHL will regularly show their logos in its Digitally Enhanced Dasherboards (DED) and blue line slot virtual signage on game broadcasts. These include regular-season national events, the Stanley Cup Playoffs, the Winter Classic, and Stadium Series broadcasts.
Unlocking New Experiences and Engagement with Fans
Keith Wachtel, President of NHL Business, recognizes the growing influence of Polymarket and Kalshi in the prediction market sector. Hence, he believes their integration with the NHL unlocks new experiences for hockey fans. At the same time, it gives the organization new ways to engage with its audience.
“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 Wachtel in the NHL’s official announcement. “Polymarket and Kalshi are ideal partners as this category continues to grow and expand.”
Shayne Coplan, Founder and CEO of Polymarket, highlighted that their cooperation will make NHL games more interactive and connected for fans. Meanwhile, Tarek Mansour, CEO of Kalshi, saw the partnership as a huge milestone for their company, as it underscores the growing confidence of institutions and the public in their platform’s integrity, safety, and trust built with consumers.
Cases Against Polymarket and Kalshi
Polymarket and Kalshi have been embroiled in several regulatory issues over the past few years. Polymarket has faced the most significant scrutiny from the Commodity Futures Trading Commission (CFTC), leading to a $1.4 million settlement in 2022. The regulator fined the platform for non-compliance with the Commodity Exchange Act (CEA) when it offered off-exchange event-based binary options contracts without securing the necessary approval from the regulator.
Polymarket got into trouble again for allegedly accepting election prediction bets from US users last year. However, the CFTC and the Department of Justice eventually abandoned their investigation without taking any enforcement or legal action against the company.
Kalshi, on the other hand, is regulated by the CFTC. However, it got into trouble with the regulator for allowing election outcome betting on its platform, to which it successfully defended itself in court. It also got entangled in a lawsuit initiated by state regulators for allegedly breaking local sports betting laws. The company still has a pending case in Maryland.
