NHL Says Partnerships Give It Authority to Remove Unapproved Event Contracts

NHL commissioner Gary Bettman is drawing the line on prediction markets.

He said this week that the league has the authority to instruct Polymarket and Kalshi to take down event contracts it deems inappropriate. 

Speaking on CNBC's Squawk Box, Bettman described this ability as a key benefit of making the two firms "official prediction markets partners." This designation grants them access to proprietary league data and the right to use NHL branding. 

However, Bettman explained that their partnership contracts give the NHL final say on what can be offered on prediction market apps.

Polymarket and Kalshi have come under scrutiny because their sports-event contracts closely resemble traditional bets. This similarity has so far prevented them from securing comparable partnerships with leagues such as the NBA, NFL, and MLB. 

Bettman said the NHL chose to move forward in part to ensure fans know these contracts are grounded in verified data, and also because the agreements give the league direct input on which products appear on the platforms.

Kalshi confirmed that the partnership includes cooperation on any contract the league may question, noting that issues can be addressed before listings go live. To date, the NHL has not asked either platform to remove a contract. 

Bettman also addressed recent gambling scandals involving athletes in the NBA and MLB, but said he does not believe the NHL faces the same level of risk. He noted that the league monitors every second of gameplay, along with betting and prediction-market activity, arguing that formal partnerships help alleviate vulnerabilities by improving visibility and control.

CFTC approval marks Polymarket's return

That emphasis on oversight dovetails with Polymarket's significant regulatory milestone announced the same day. The company said it has received an Amended Order of Designation from the Commodity Futures Trading Commission (CFTC).

The designation authorises the company to operate legally in the US, nearly four years after it was pushed offshore due to compliance failures. The approval allows Polymarket to function as an intermediated contract market and begin directly onboarding US customers and brokerages.

Polymarket said it can now work with intermediary merchants and other core participants in the American futures ecosystem, a shift it framed as a pragmatic step toward integrating prediction markets into established financial channels. The CFTC did not immediately comment on the decision.

The company's re-entry had been widely anticipated following its July acquisition of a CFTC-regulated U.S. derivatives exchange. Under the current administration, the CFTC has taken a more permissive stance toward prediction markets, even as these platforms face heightened legal scrutiny for edging close to regulated sports wagering. 

In July, both the CFTC and the Department of Justice closed investigations into whether Polymarket continued serving US customers. This resolution helped vindicate the company's efforts to reestablish its domestic footprint fully.