NHL reaches multi-year licensing agreement with prediction markets Kalshi and Polymarket: WSJ
The NHL signed multi-year licensing deals with crypto-focused prediction markets Kalshi and Polymarket, pressuring traditional sportsbooks.Summary
The National Hockey League (NHL) has reportedly secured multi-year licensing agreements with Kalshi and Polymarket, two prominent crypto-focused prediction markets. This move, set to be announced, is considered an industry-first and increases competitive pressure on established sportsbook companies like DraftKings. The news coincides with significant growth in prediction markets; Polymarket saw a surge in new markets last month, and Kalshi's daily active markets metric has risen sharply alongside increased trading volume across both platforms. This development follows recent major funding rounds for both companies: Kalshi recently raised over $300 million at a $5 billion valuation, while Intercontinental Exchange, the parent company of the NYSE, is reportedly investing $2 billion in Polymarket, potentially valuing it between $8 billion and $10 billion.
(Source：The Block)