How markets work
What a price means, how we compare three venues, and where the numbers come in.
A price is a probability
Each contract pays $1 if its outcome happens and nothing if it does not. A Yes price of 51¢ means traders collectively put the chance near 51%. Prices move as people trade, so the number is a snapshot of opinion, not a forecast we make.
Fair price
Our fair price removes the bookmaker margin from the sportsbook consensus, so the two sides of a game add up to exactly 100%. It is the neutral reference every venue price is compared against.
Stats estimate
The stats column turns each team's points percentage from last season into a head-to-head chance and adds home ice. It knows nothing about this season's lineups, injuries or goalies, which is exactly why the gap is interesting.
"Best" price
"Best" marks the cheapest place to buy Yes on an outcome after each venue's fees. It can change from row to row because fees and listings differ.
Risk
Trading event contracts involves risk of loss. Prices are snapshots and may be delayed. Venues are available only where permitted, to people aged 18+ or 21+ depending on the state, province and platform.
The three venues we compare
A price of 51¢ pays $1 if the outcome happens, so it implies a 51% chance. Venues differ in fees, which markets they list and where they are available, which is why "Best" can change from row to row.
KalshiPartnerA US exchange regulated by the CFTC as a designated contract market. Lists every NHL game and most futures.
- Regulation
- CFTC exchange (DCM)
- NHL markets
- Games, totals, futures
- Fee model
- Per contract, on trade
- Availability
- Most US states
PolymarketPartnerPolymarket US is a separate CFTC-regulated exchange with its own order books and full identity checks. Lists NHL games with player props, and the Cup, conference, division and award futures.
- Regulation
- CFTC exchange (DCM)
- NHL markets
- Games, props, futures, awards
- Fee model
- Taker fee on trades
- Availability
- US, varies by state
ProphetXPartnerA peer-to-peer sports exchange, regulated by the CFTC as an exchange and clearing house since June 2026. Its NHL listings are game lines: moneyline, spread and total, posted on game day.
- Regulation
- CFTC exchange + clearing (DCM, DCO)
- NHL markets
- Game lines
- Fee model
- Fees vary by market
- Availability
- 49 states and DC, not Nevada
Venue facts as of October 2026.
What does 51¢ mean?
A contract that pays $1 if the outcome happens. Paying 51¢ implies the market sees a 51% chance.
Why compare venues?
Fees and liquidity differ, so the same outcome can cost a few cents more or less depending on where you look.
Is this advice?
No. We show prices next to the numbers. Markets carry risk of loss and are not available everywhere.
Responsible play. 18+/21+ depending on your state or province and platform. Trading event contracts involves risk of loss and is not appropriate for everyone. Pucks & Stats compares prices and earns affiliate commissions from the venues listed; it is not a broker or exchange. Market prices are not available in every location. Problem gambling? Call or text 1-800-GAMBLER. Affiliate disclosure · Responsible gaming