Even though New York is a state where the legality of sports-related event contracts is being battled out in federal court, it is also the home of the second NHL team to sign an official prediction market partner.
Madison Square Garden Sports Corp., the owner of the both the New York Rangers and the New York Knicks, announced the partnership with Polymarket on Thursday, cementing it as the official prediction partner market for the Rangers.
“The Rangers have one of the most dedicated fanbases in sports, and this partnership introduces a new, dynamic layer of engagement to the fan experience,” said Polymarket CEO and Founder Shayne Coplan. “Prediction markets offer fans a real-time, interactive way to connect with the game, and the Rangers are an ideal franchise to bring this experience to a broader audience.”
“This is a landmark partnership for the Rangers in this new and exciting category, and Polymarket is the perfect fit as one of the most reliable and forward-thinking prediction market operators,” added MSG Sports Chief Operating Officer Jamaal Lesane. “Polymarket becomes not just an official partner of the Rangers, but they will also be involved across digital channels, fan activations and promotions at Rangers games.”
As Lesane noted, the scope of the deal includes in-arena activations including digital signage, on-ice activities and concourse activations. The company will also be an official partner for The Garden Cup, an annual tennis event at Madison Square Garden featuring pros and celebrities competing in an exhibition event.
Last month, Kalshi became the first prediction market to ink an individual team deal, signing a partnership with the Chicago Blackhawks.
Both team deals come after the NHL launched a league-wide partnership with both Kalshi and Polymarket.
“As prediction markets continue to evolve at a rapid pace, partnering with the two market leaders, Kalshi and Polymarket, provides a tremendous opportunity for the broadest fan engagement during the NHL season,” NHL Business President Keith Wachtel said when the deal was announced last October.
To date, the NHL has been the only major sports league open to the world of prediction markets. The NBA, NFL and MLB have all expressed varying degrees of concern about sports-related event contracts.
