NHL Forges Path for Prediction Markets in Pro Sports

In a move that signals a potential disruption to the traditional sports betting industry, the National Hockey League (NHL) has announced multiyear licensing agreements with leading prediction market platforms, Kalshi and Polymarket. This landmark decision makes the NHL the first major professional sports league in the United States to officially sanction and permit the use of its trademarks by prediction markets, often referred to as “licensed betting markets.” As detailed in an October 22 report by The Wall Street Journal, these partnerships grant both platforms the rights to leverage NHL branding, thereby integrating prediction market functionality directly into the mainstream sports experience. This development is seen as a significant endorsement for prediction markets, presenting a formidable challenge to established sportsbooks and potentially redefining how fans engage with sports outcomes.