Summary
- The NHL reportedly signed multi-year licensing agreements with cryptocurrency-based prediction market platforms Kalshi and Polymarket.
- Under the partnership, the two platforms will be able to legally use the NHL's official league data to create various markets.
- This is expected to put pressure on existing sports betting companies and to facilitate entry into the mainstream and improved credibility for blockchain-based markets and the prediction market industry.
The National Hockey League (NHL) has reportedly signed multi-year licensing agreements with cryptocurrency-based prediction market platforms Kalshi and Polymarket.
On the 22nd (local time), the Wall Street Journal (WSJ) exclusively reported that the NHL had signed licensing agreements with Kalshi and Polymarket. This deal is the first case of a major professional sports league officially partnering with prediction markets, and is expected to put considerable pressure on existing sports betting companies such as DraftKings.
According to the report, the NHL is set to make an official announcement, and under the agreement the two prediction market platforms will be able to legally use league data to open markets based on various events such as game results and player performances.
Through this agreement, the NHL will expand its participation in blockchain-based markets, while the prediction market industry will gain an opportunity to increase public trust through cooperation with mainstream sports content.
Son Min
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