NHL enters unprecedented partnership with Kalshi and Polymarket

• NHL enters into unprecedented partnership with Kalshi and Polymarket.
• Crypto prediction markets attract billion-dollar investments in 2025.
• The sector is putting pressure on traditional sports betting companies like DraftKings.

The National Hockey League (NHL) has entered into multi-year licensing agreements with prediction markets Kalshi and Polymarket, marking the first major partnership of its kind between a North American sports league and cryptocurrency-based platforms. The move represents a strategic expansion by the league into the growing segment of prediction markets and puts additional pressure on traditional sports betting companies like DraftKings.

According to Wall Street Journal , the official announcement is expected later this Wednesday. The initiative reflects the advancement of decentralized prediction markets, which have been gaining traction as regulated alternatives for betting and speculation on sporting and financial events. These markets allow users to bet on event outcomes based on tokenized contracts, bringing a new layer of transparency and efficiency to the sector.

Kalshi, a US-based platform regulated by the Commodity Futures Trading Commission (CFTC), has been notable for its growing trading volume. In early October, the company revealed it had raised over $300 million in a round that valued the company at approximately $5 billion. This growth coincides with the rise of new markets and successive daily volume records, driven by the popularity of predictions on sports, political, and economic topics.

Polymarket, meanwhile, continues its rapid global expansion and recently received a $2 billion investment from Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange. The investment could value the startup at between $8 billion and $10 billion, solidifying its position as a leader in the sector.

According to recent data, new market creation on Polymarket has reached consecutive monthly peaks, while the number of daily active markets on Kalshi has also increased significantly. This growth demonstrates investor appetite for platforms that combine decentralized finance, blockchain technology, and regulatory mechanisms.

With the NHL's entry into this space, prediction markets gain institutional legitimacy and expand their exposure to mainstream audiences. The partnership could pave the way for new forms of engagement between fans and sporting events, bridging the cryptocurrency universe with the sports entertainment industry.