The agreements aim to attract younger, tech-savvy fans while shaking up the dominance of sportsbooks like DraftKings and FanDuel|@NHL|X
The National Hockey League (NHL) has signed multiyear licensing deals with prediction-market startups Kalshi and Polymarket, becoming the first major US sports league to let such platforms use its official trademarks, including NHL and Stanley Cup.
The move challenges traditional sportsbooks like DraftKings and FanDuel, which now face growing competition from event-based trading platforms.
Kalshi and Polymarket let users trade “event contracts” on game outcomes, similar to sports bets but regulated by the Commodity Futures Trading Commission (CFTC).
Despite legal battles in several states, Kalshi’s trading volumes have surged, especially after partnering with Robinhood Markets.
Since late September, DraftKings’ stock has dropped 18%, while FanDuel’s parent, Flutter Entertainment, is down 11%.
NHL executive Keith Wachtel said the partnerships aim to attract tech-savvy fans while maintaining ties with existing sportsbooks.
Polymarket, backed by a planned $2 billion investment from the New York Stock Exchange’s parent company, plans to relaunch in the US after acquiring a CFTC-regulated exchange.
Critics, including the American Gaming Association, say these deals blur lines between gambling and financial trading.