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Hockey

NHL game markets

Each team in each game gets a YES contract that pays $1 on a win, and Kalshi lists two ladders beside it: a goal margin ladder and a total goals ladder. Preseason games list too. Under the current CBA a player with 100 or more NHL games can appear in only two of them, so those lineups are half tryout and we use the board to learn rather than to trade.

GuidesKXNHLGAMEKXNHLSPREADKXNHLTOTAL checked Sep 22, 2026

Season: Preseason runs about a week in late September. The regular season opens at the end of September and runs to April.

Live from Kalshi

Open NHL markets

YES prices in cents from Kalshi's public data. Only markets that close after right now are shown, grouped by game.

Loading from Kalshi

Loading open markets from Kalshi

BidThe most a buyer will pay right now. Selling now gets you this.
AskThe least a seller will take. Buying now costs this.
LastThe price of the most recent trade.
SpreadAsk minus bid. Amber at 10¢ or more, where the gap eats most edges.

Source: Kalshi public market data, series KXNHLGAME, KXNHLSPREAD, KXNHLTOTAL, checked for this page on Sep 22, 2026. Prices can be a few seconds old. They are market prices, not our picks and not a recommendation. PM Countdown isn't affiliated with or endorsed by Kalshi.

Week archive

Every finished week becomes a permanent page: closing prices, results, and how each market moved.

Previews

Every NHL game we have written up

20 previews, Sep 22 to Oct 15. Records, the injury report, the season series and the price at the time we read it.

TueSep 2210 games

FriOct 21 game

ThuOct 81 game

FriOct 91 game

SatOct 102 games

MonOct 123 games

ThuOct 152 games

Method, not picks

How we approach NHL

What we look at before we write a plan. Every plan still has three lines: the buy price, the sell target and the hold rule.

  1. Wait for the starting goalie

    The goalie is the biggest single input in a hockey price, and it is the one the market moves on. We do not post a plan until the starter is confirmed.

  2. Read the spread before the opinion

    Hockey books here are thinner than the football ones. If the gap between bid and ask is wider than the edge you think you have, the edge was never yours.

  3. Overtime and shootouts

    Read what the market pays on a game decided past regulation before you buy. One game in four gets there, and home advantage does not survive the trip.

  4. Preseason is for watching

    Veterans are capped at two preseason appearances under the CBA, so half the names on the sheet are playing for a job. We use those games to learn, not to trade.

Before you trade

What to check first

  • Home ice is real and small: about 54.5% and a third of a goal a game over three decades, against 60.5% in the NBA.
  • A large part of that runs through the officials. Across 3,278 games, away teams drew significantly more penalties with a crowd in, and the gap vanished in empty arenas.
  • Goalies barely carry form. Save percentage above expected correlates about 0.12 from one season to the next.
  • A hot goalie is not a forecast. Across 48,431 playoff shots and 93 goaltenders, recent strong play predicted nothing, and trended slightly the wrong way.
  • Percentages do not repeat. Of 138 skaters who posted an on-ice shooting percentage above 11% in a season, five did it again the next year.
  • Process does carry. Past about 20 games, expected goals predicts future scoring better than past goals do.
  • Travel on its own is noise. The one schedule effect that survives a real study is a back-to-back plus a time-zone crossing, at 46.8%.
  • A shootout win is recorded as exactly one goal to the winner, so a scoreless game settles 1-0.

Every market on Kalshi has its own rules page. When our checklist and the rules disagree, the rules win.

How this market settles

Hockey contracts on Kalshi

Shootout winOne goal to the winner
OvertimeCounts
Long delayLast fair price

Read from Kalshi's filed contract terms for hockey. The one-line summary on a market page is not the contract; the terms are. Rules vary by series, so check the market you are actually trading.

Basics

How NHL markets work

One contract

One YES per outcome

Each side gets its own YES contract. It pays $1.00 if that outcome happens and $0 if it doesn't.

Probability

Price reads as a chance

A 22¢ YES price means the market puts it near 22%. What matters is the gap between that and your own estimate.

Spread

Bid, ask and the gap

You buy at the ask and sell at the bid. The gap between them is a cost you pay every time you go in and out.

Fees

Fees move break-even

Kalshi's taker fee is 0.07 × contracts × price × (1 − price), rounded up to the cent. Resting orders on many markets pay a lower maker rate. Fee schedule

Trade Smart path

Related lessons

All lessons
Lesson 02Cash out on purposeWrite the buy price, the sell target and the hold rule before the event starts.Lesson 03Kalshi prices and feesWhy 22¢ reads as about 22%, and how the spread and fees move your break-even.Lesson 01Bankroll and unitsSize every position from money you could lose without touching rent. One unit is 1 to 2% of it.

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21+Only risk what you can afford to lose. Set a money limit before you start, take profits on purpose and stop when you hit your limit. Not financial or betting advice. Gambling problem? Call or text 1-800-MY-RESET.

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