NHL strikes prediction market deals with Kalshi, Polymarket
The National Hockey League said Wednesday it has reached a multi-year licensing agreement with prediction markets Kalshi and Polymarket. More sports leagues may be coming soon.
Kalsh co-founder and CEO Tarek Mansour told CNBC’s “Squawk Box” that the deal was a “seminal moment” for the prediction markets and the company.
“Having a league like the NHL partner with us is a strong sign that prediction markets are here to stay,” Mansour said.
As part of the NHL deal, Kalshi and Polymarket will gain access to the league’s proprietary data and rights to use NHL branding and logos. In return, the hockey league will receive a number of customer protections, Mansour said. The NHL said both companies will receive exposure to the brand during broadcasts.
Mansour said the NHL deal could be replicated in other leagues: “Be on the lookout for more announcements soon,” he told CNBC.
Representatives for the NBA and NFL did not immediately respond to requests for comment. MLB declined to comment.
NFL in August anxiety About prediction markets that allow clients to trade on the outcome of events in entertainment and culture, such as election results or the duration of the ongoing government shutdown.
Kalshi and other event trading platforms are regulated by the Commodity Futures Trading Commission. But many states, regulators and tribes are pushing back on prediction markets, arguing they amount to unregulated gambling. There are numerous state and federal lawsuits Studies on the alleged risks are ongoing.
The American Gaming Association said Wednesday that the NHL deal “sends a troubling message.”
“The platforms in question do not comply with basic standards,” AGA said. “Worse still, they now offer sports betting to anyone over 18 in all 50 states, some of which do not allow any legal sports betting and largely define 21 as the current legal age for betting.”
NHL Business president Keith Wachtel told CNBC he was pleased with Kalshi and Polymarket from a regulatory and integrity standpoint, noting that the sports betting sites: FanDuel And DraftKings We also established partnerships with forecasting platforms.
He said the league’s interest in prediction markets lies in the opportunity to reach new fans.
“The great thing about prediction markets is that it goes beyond sports,” he said. “It gives us the opportunity to watch a different audience grow significantly.”
Mansour said criticism of the market is the same path for a disruptor and he is confident in Kalshi’s regulatory structure. He said Kalshi has worked for years with the federal government to create a regulated prediction markets.
“When we think about today’s announcement, that’s what the NHL agreement is really about. It’s essentially a validation of the fact that we’ve put in place the right set of customer protection and the right set of market integrity measures to protect our markets and also to protect the game,” he said.
