NHL cap reform tightens the playoff roster leash and reshapes deadline math, with full-season cap checks and no double retention. The discussion flags potential fantasy shifts from major moves: Marner and Eichel in Vegas, Ehlers to Carolina, Zegras to Philadelphia, and Dobson landing in Montreal. Looking ahead, the 2026 UFAs loom large, especially McDavid, Kaprizov, and Capriov, as teams weigh term versus immediate impact and prime-age production remains the fantasy prize.