After the 2025 NHL trade deadline, the Florida Panthers and Dallas Stars are the current co-favorites to win the Stanley Cup. The Panthers made a splash by trading for Boston Bruins captain Brad Marchand, out week-to-week with an upper body injury, while the Stars landed the biggest prize on the market, star winger Mikko Rantanen, from the Carolina Hurricanes.
The Edmonton Oilers were previously the Cup and Western Conference favorites, but slipped to second in the west behind the Stars, and ahead of the Colorado Avalanche and Vegas Golden Knights.