The National Hockey League (NHL) has reached licensing agreements with prediction market platforms Kalshi and Polymarket, making it the first major US professional sports league to permit the use of its trademarks by prediction markets, or “licensed betting markets.”
As The Wall Street Journal reported on Oct. 22, the multiyear deals grant both platforms rights to use the NHL logo, terms such as “NHL” and “Stanley Cup,” and individual team names.
The intellectual property package is the same that the league extends to sportsbook operators such as DraftKings, FanDuel, and BetMGM.
The agreements formalize the push of prediction markets into sports betting, an incursion that has drawn legal challenges from state regulators and outcry from gambling-industry groups.
Kalshi and Polymarket offer event contracts on games that function similarly to traditional sports bets, but operate under the oversight of the Commodity Futures Trading Commission (CFTC) rather than state gaming commissions.
As a federally licensed exchange, Kalshi offers sports event contracts in all 50 states, including jurisdictions that restrict betting on standard sportsbooks. Meanwhile, Polymarket is in the late stages of a US comeback.
Keith Wachtel, president of NHL business, stated:
“Prediction markets are here to stay. Partnering with Kalshi and Polymarket could expand the league’s fan base to the tech-savvy users of prediction markets, Wachtel added, while noting that sportsbooks remain “important partners” of the NHL.”
Volume surge and market share
The partnership arrives as prediction markets record multibillion-dollar quarterly volumes. Kalshi and Polymarket are the largest platforms, accounting for 46.6% and 52.1% of the market, respectively, as of last week.
According to a Dune dashboard by user dunedata, Kalshi’s volume increased from $1.9 billion in the second quarter to $4.5 billion in the third quarter. In comparison, Polymarket’s volume rose from $3.2 billion to $3.7 billion during the same period.
Combined volumes for the previous quarter amount to $8.2 billion, representing a 61% increase over
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Author: Gino Matos
