Gary Bettman defends NHL jumping into bed with predictions market

The NHL was the first major North American sports league to embrace a partnership with prediction markets. The league signed licensing agreements with both Kalshi and Polymarket last year.

Given what a clusterf*ck prediction markets have turned into recently, with their lack of ethics, the moral implications created by some of their death-related markets, and various other controversies, NHL commissioner Gary Bettman needed to reiterate the league’s commitment and reasoning for jumping into bed with them.

Speaking to CNBC’s Melissa Lee, Bettman said the league wanted to make sure “real data being used so there was no debate about outcome” of any markets or bets. He added that the NHL was given the ability to “take down any contracts that we think are inappropriate,” giving the league a “level of control that we wouldn’t otherwise have if we didn’t get involved.”

Lee asked Bettman whether the NHL had asked a prediction market to remove any markets it felt were inappropriate, and Bettman responded, “No, we haven’t had to, but we’re monitoring it on a real-time basis.”

Less concerned with truth and integrity than with engagement and profit, prediction markets have taken full advantage of guardrail-less social media platforms and even partnered with legitimate professional athletes, creating a whole host of potential problems around insider trading and market manipulation. Both Kalshi and Polymarket came under fire last week over markets related to the United States-Israel joint strike on Iran.

MLB commissioner Rob Manfred recently said that they are considering partnering with prediction markets. The NFL, meanwhile, has voiced concerns about them and banned their commercials from the Super Bowl. The NCAA also publicly demanded that Kalshi stop using its trademarks in its offerings.