NHL reaches multi-year licensing agreement with prediction markets Kalshi and Polymarket: WSJ
Quick Take
- The NHL has reportedly reached multi-year licensing agreements with Kalshi and Polymarket.
- The industry-first deal adds pressure to traditional sportsbook companies, such as DraftKings.
- Predictions markets continue to experience strong growth.
The National Hockey League has reportedly reached multi-year licensing agreements with Kalshi and Polymarket, the two leading crypto-focused predictions markets, in an industry-first move that adds pressure to traditional sportsbook companies like DraftKings.
The deal is set to be announced today, according to The Wall Street Journal.
The news comes as prediction markets continue to experience strong growth. New markets on Polymarket surged last month and are on pace to set another new monthly record, according to The Block's Data Dashboard. Likewise, the daily active markets metric on Kalshi has gone parabolic alongside surges in volume across both platforms.
Earlier this month, Kalshi shared that it raised more than $300 million at a $5 billion valuation.
Meanwhile, the New York Stock Exchange's parent company, Intercontinental Exchange, is investing $2 billion in Polymarket in a deal that could value the company between $8 billion and $10 billion.
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