NHL Commissioner Gary Bettman told CNBC this week that the league’s deals with prominent prediction market operators are partly about staying “in control.”
During CNBC’s Squawk Box segment, Bettman provided context for why the NHL is embracing prediction markets through its recent partnerships with Kalshi and Polymarket. In October, the NHL became the first U.S. pro sports league to officially enter the prediction market space through its partnerships with the two platforms.
“We have aligned with the prediction market because we believe our fans need to understand that if they’re going to execute those contracts, it’s based on real data,” Bettman told CNBC. “But more importantly, it gives us control, because we have the ability to take down any contracts that we don’t think are appropriate.”
The NHL’s partnerships with Kalshi and Polymarket provide the platforms and their brokers and merchant partners with access to official NHL data, as well as the league’s marks and logos. Kalshi and Polymarket are also poised to benefit from marketing via virtual signage aired during regular-season and playoff games. Signage will also be displayed during events, including the NHL Winter Classic.
NHL Commissioner addresses recent gambling scandals
Bettman also addressed integrity concerns for the NHL and its ties to prediction markets, as the NBA and MLB deal with recent gambling-related scandals that include allegations of game manipulation and insider information sharing. The ongoing scandals involve alleged rigged poker games, illicit sports wagers, and rigged pitches, but no event contracts.
“I don’t believe our game is susceptible in the way that some others might be,” continued Bettman. “I have confidence in our players and our personnel, but this is something that we monitor every second of every game. We monitor the betting and prediction lines, and you can’t really get away with doing that kind of cheating anymore.”
Bettman also voiced support for the league’s partnerships with sports betting operators, with the league having deals with major sportsbooks including FanDuel and Caesars.
“Being aligned with either the sports betting entities or the prediction market entities gives you the ability to have more control and to observe more closely exactly what’s going on,” added Bettman. “So, I think it’s more protective than anything else by having these alignments.”
Other US leagues hesitant about prediction markets
The NHL is embracing prediction markets as the NBA and MLB seek clarity on sports event contracts. Earlier this year, the NBA sent a letter to the Commodity Futures Trading Commission (CFTC) voicing concerns about the infancy of NBA event contracts.
The NBA considers legal sports betting a better avenue for fan engagement with the standards and protocols put in place by gaming regulators across the country. Meanwhile, MLB wants the CFTC to create an “integrity framework” for sports event contracts. MLB wants the framework to offer the same consumer protections required by sportsbooks.
The NFL responded to the sports event contract craze by banning all players and staff from event contract trading, as the league believes the offerings mimic sports betting.
The NFL’s active gambling policy bans league employees and players from wagering on league games, or from getting someone else to place bets for them.
