🚀 NHL signs deals with prediction markets

In partnership with

Market Overview
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Year To Date Performances:

1. The NHL has become the first major U.S. sports league to partner with prediction market platforms, signing a multi-year licensing deal with Kalshi and Polymarket. The agreement grants both companies access to NHL data and branding while providing the league with new customer protection measures and broadcast exposure. Kalshi CEO Tarek Mansour called the partnership a “seminal moment” for prediction markets, hinting that other sports leagues may soon follow. While the NFL and NBA have yet to comment, the move comes amid broader regulatory debates over whether prediction markets constitute gambling, with critics warning of potential manipulation risks. The NHL, however, views the partnership as a way to expand its audience and connect with fans beyond traditional sports betting.

2. The U.S. government shutdown entered its 22nd day on Wednesday, making it the second-longest in history, with both occurring under President Donald Trump. The stalemate stems from Senate Democrats blocking a Republican funding bill that omits health care provisions, including an extension of enhanced Affordable Care Act tax credits set to expire this year. Without those credits, premiums for millions could rise in 2026. Republicans, holding a 53–47 Senate majority but lacking the 60 votes needed to pass a bill, accuse Democrats of keeping the government “hostage.” Meanwhile, the House-passed stopgap measure has failed 11 times in the Senate, and a GOP attempt to fund only the military was also blocked, leaving the shutdown with no clear end in sight.

3. Meta is laying off about 600 employees from its artificial intelligence division as part of a broader effort to streamline operations and speed up decision-making. The cuts, announced in a memo from Chief AI Officer Alexandr Wang, affect teams across AI infrastructure, research, and product units, with employees placed on a “non-working notice period” until their November termination date. The layoffs come as Meta invests heavily, over $14 billion this year alone, in scaling its AI capabilities to compete with rivals like Google and OpenAI, following mixed reactions to its Llama 4 model. CEO Mark Zuckerberg has grown increasingly impatient with the company’s AI progress, recently forming a new Meta Superintelligence Labs team to accelerate breakthroughs. Despite its cost-cutting, Meta continues expanding its AI infrastructure, including a $27 billion data center project in Louisian,a announced just a day before the layoffs.

   Headlines

   1. SEC Chair Paul Atkins confirmed that even with the government shutdown, the SEC is actively investigating suspicious activity in US markets.

   2. The $22M settlement that Trump received from YouTube will be used to support the construction of the new ballroom in the East Wing of the White House.