6 Last-Minute Storylines to Watch at the 2026 NHL Draft
The NHL Draft is one of the biggest days of the league's offseason and is not only a chance for teams to change their long-term outlook, it also tends to be one of the busiest times of year for player movement.
We have already seen the latter part unfold over the past week and it could be setting the stage for even more chaos this weekend.
A rising salary cap, combined with a weak free agent class, has turned the league's general managers into aggressive trading machines with some seismic moves that could change the balance of power across the league.
Not only that, a storied Original Six franchise owns the No. 1 overall pick, there is a real chance the No. 2 overall pick could be moved, we have already seen the No. 4 pick get moved (and could potentially see it move again), and there is some serious intrigue over what the top-three picks will actually look like.
With all of that in mind, let's take a look at six last minute storylines to watch at the 2026 NHL Draft weekend.
Do the Toronto Maple Leafs make the obvious pick?
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The Toronto Maple Leafs had lottery luck on their side when they moved up to the No. 1 overall pick, putting themselves in a position to draft a potential franchise-changing player.
For more than a year now the consensus top prospect in this class has been Gavin McKenna, but Ivar Stenberg has put himself into the discussion and at least created some sort of intrigue at the top.
McKenna's decision to play college hockey has no doubt taken some of the steam out of the hype around him, mostly because he played against significantly tougher competition and did not have a chance to put up the type of video game numbers in the CHL that would have stolen headlines. But he still had a monster year at Penn State and might actually be better prepared for an immediate jump to the NHL because of the competition he played against.
Stenberg is an outstanding prospect, but there is no need to overthink this if you are the Maple Leafs. McKenna is the guy. He should be the guy. Will they actually do it?
Do the San Jose Sharks make the No. 2 pick?
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The Sharks had their own share of lottery luck, moving up seven spots in the lottery to get the No. 2 selection in this year's class and potentially add another superstar to a young core that already has Macklin Celebrini, Will Smith and Michael Misa as potential cornerstones.
But will they make the No. 2 pick?
It used to be unheard of to even consider the thought of a team trading a top-10 pick, but we have already seen three trades involving top-10 picks this week, including a top-five pick when the Chicago Blackhawks moved the No. 4 overall pick to the Buffalo Sabres for defenseman Bowen Byram.
Sharks general manager Mike Grief has not been afraid to point out that he is getting a lot of calls for that pick, and that he is open to dealing it.
He already acquired the No. 9 overall pick in exchange for forward William Eklund, and he still has the No. 27 overall pick following a series of trades. That creates a lot of flexibility and gives him a lot of options.
He can take Stenberg at No. 2 and use the No. 9 and 27 picks to beef up his defense prospect pool, or perhaps even trade them for more immediate help.
He could also potentially move the No. 2 pick to help land an immediate star in the NHL, or move back to collect even more picks and take a top defensemen there.
His decision here could be one of the first big dominoes to kick off a wild first-round.
What do the St. Louis Blues have planned with all of those first-round picks?
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The St. Louis Blues have put themselves in a spot where they have four picks in the first round (No. 11, 15, 16 and 29) and could be in a position to make a bold move with them.
They would seem to be a serious threat to make a significant move up the draft board from No. 11, while also having more than enough trade capital to try and land somebody more established that fits into their current re-tooling at the NHL level.
After trading Jordan Kyrou to the Washington Capitals earlier this week it is pretty clear the current core is going to center around players Robert Thomas, Dylan Holloway and Jimmy Snuggerud. That is a solid foundation, and now they have the opportunity to potentially add somebody that can fit in with that core and make a difference both now and in the future.
It seems hard to believe that they actually make four picks in the first-round. Some of those picks are getting moved for something. It just seems logical.
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What trades are going to get made?
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This seems to be the offseason where the NHL's general managers are going to actually deliver on the promise for blockbuster trades and significant roster movement, and they have already gotten off to a great start.
Brady Tkachuk, Jordan Kyrou, Darren Raddysh, Alex Tuch, Simon Nemec and Bowen Byram are just some of the big names that have already switched teams this offseason, and there are still some massive names still floating around on the rumor mill.
Does Toronto move Morgan Rielly and/or Matthew Knies this weekend?
Will Detroit Red Wings general manager Steve Yzerman give in to Dylan Larkin's trade request this week?
Does Dallas trade Jason Robertson because it can not get him signed to a contract that it likes?
How much will the New York Rangers actually re-tool, and will center Vincent Trocheck be on the move?
Will Connor Hellebuyck become the latest star player to leave a Canadian team for an American-based team?
Will the Vancouver Canucks finally make a move with Elias Pettersson?
What does Kyle Dubas have planned with the Pittsburgh Penguins?
Are the Buffalo Sabres going to pick with their newly acquired No. 4 overall pick or do they have something bigger planned for their roster?
Will defensemen dominate the first round?
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This year's draft class probably has not lived up to the hype that surrounded it more than a calendar year ago, mostly because there has not been a lot of high-end center depth to develop. The one position that is potentially loaded with talent, however, is on defense, where they could be a significant run on them early in the first-round.
The San Jose Sharks could be in a position to really transform their defense with both the No. 2 and No. 9 overall picks. The No. 9 pick seems like it is already locked in for defense, while there is a chance they could move back from No. 2, accumulate more picks and take somebody at the top.
With all of that being said, it is interesting that a team like Chicago felt so little about this draft class that it was willing to move the No. 4 pick (and the No. 45 pick) for an inconsistent, 25-year-old defenseman that is one year away from unrestricted free agency.
How high does Caleb Malhotra go?
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Malhotra has a chance to be one of the wild-card players of the first-round based on where he goes.
He is certainly one of the top center prospects in the class, but his actual draft projection seems to be all over the top-10. The most obvious destination, however, would seem to be the No. 3 overall pick with the Vancouver Canucks. Not only because the Canucks need a young, potential cornerstone center to build around, but also because the team just hired his dad, former NHL center Manny Malhotra, to be their head coach.
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