The National Hockey League (NHL) has taken a historic step by entering into multi-year licensing agreements with crypto-oriented platforms Kalshi and Polymarket. These companies specialize in prediction markets—a segment that is rapidly growing and beginning to compete with traditional betting services like DraftKings.
According to The Wall Street Journal, the agreement will be officially announced today and will become the first such partnership between a major sports league and blockchain-based prediction platforms.
An industry at the intersection of sports and crypto technologies
For the NHL, this move opens up a new source of fan engagement. Prediction markets allow users to bet not only on match outcomes but also on a wide range of events—from the number of goals to player ratings and team statistics. Unlike bookmakers, Kalshi and Polymarket operate on a probability trading principle, where the market itself forms the price of an event through supply and demand.
These platforms function as a hybrid between an exchange and a gaming service: users buy and sell positions reflecting their expectations, and prices automatically show the probability of an outcome. This approach makes the market more transparent and less dependent on traditional bookmaker models.
Growing interest and new investments
The prediction markets segment has experienced rapid development over the past year. Polymarket showed record activity: trading volume and the number of new markets in October reached an all-time high. According to The Block, the number of daily active markets on Kalshi also grew exponentially, and total trading volume doubled compared to the summer.
Kalshi recently completed a $300 million funding round at a $5 billion valuation, strengthening its position as a leading prediction platform in the US. Polymarket, in turn, received strategic investments from the parent company of the New York Stock Exchange—Intercontinental Exchange (ICE). The investment amount is estimated at $2 billion, and the project’s market value could reach $10 billion.
Pressure on traditional bookmakers
The new NHL alliance with crypto platforms creates pressure on traditional betting industry companies. DraftKings and FanDuel, which have dominated the US market for decades, are facing competition from Web3 technologies, where users gain direct control over their funds and transparent settlement mechanics via blockchain.
Market representatives believe that such partnerships could change the structure of the entire sports betting industry. If the agreements prove successful, other major leagues—from the NBA to the NFL—may follow the NHL’s example and begin cooperating with decentralized prediction platforms.
Why this matters for the industry
The deal confirms that crypto technologies are gradually moving beyond the financial sector and penetrating mass entertainment industries. The partnership with the NHL strengthens the legitimacy of prediction markets in the eyes of regulators and paves the way for their integration into official sporting events.
In addition, cooperation with Kalshi and Polymarket demonstrates that blockchain can be used not only for token trading but also for creating fairer and more transparent prediction models.
What’s next?
Analysts expect that in the coming months, the NHL and its partner platforms will launch a series of themed markets related to game events and player statistics. If the experiment is successful, the model could become a standard for the entire sports sector.
Thus, the NHL agreement with Kalshi and Polymarket is not just a marketing move, but a step toward creating a new prediction ecosystem where sports, blockchain, and finance are united in a single digital space.
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