NHL, CFTC sign data-sharing MOU to police prediction markets

The National Hockey League and the Commodity Futures Trading Commission finalized a memorandum of understanding on Thursday to share hockey-related data and information aimed at detecting insider trading and other abuses in prediction markets.

The agreement sets up a formal channel for information exchange between designated representatives from the NHL and the CFTC. The partners will share investigative leads, trading data and integrity-monitoring information tied to hockey event contracts and related market activity. Officials said the arrangement does not transfer regulatory authority to the league and is meant to increase transparency around hockey-related contracts.

CFTC Chairman Michael Selig wrote that the MOU furthers the agency’s work to improve data sharing with professional sports leagues. NHL Commissioner Gary Bettman wrote that the agreement enhances the league’s integrity monitoring and helps identify and address potential risks.

The NHL-CFTC pact follows a similar memorandum the CFTC signed with Major League Baseball in March. That same month the commission issued guidance on event market rules and sought public comment on possible regulatory changes for platforms that offer contracts tied to real-world events.

Concerns over prediction market integrity emerged this year after investigators identified a cluster of accounts that profited about $2.4 million on well-timed bets linked to U.S. actions in Iran. Separately, authorities arrested a U.S. service member who is accused of using privileged information to net about $400,000 on bets tied to the capture of a foreign leader.

The NHL has licensed trademarks to two event-market operators, Kalshi and Polymarket, for hockey-related trading since last October. Platforms have built surveillance tools to flag suspicious trading; Polymarket has announced a collaboration with analytics firm Palantir to develop sports-focused monitoring systems.

CFTC officials have described the commission as the primary regulator for many prediction-market platforms that offer event-based contracts that resemble swaps under the Commodity Exchange Act. League and regulator representatives said they expect the MOU to improve detection of suspicious activity and to complement existing league integrity programs.