A La Liga team placed millions of dollars in bets through Kalshi to hedge against the risk of relegation

A Spanish La Liga football club faces the risk of relegation before the final match of the season. To avoid losses in ticket and broadcasting rights revenue due to relegation, the club's owner placed a bet of millions of dollars on the prediction market Kalshi against their own relegation.

In the end, the club lost the last match 0 to 1 but still managed to avoid relegation. Sources revealed that the counterparty of this transaction was the quantitative trading firm Susquehanna, which profited over 1 million dollars from this deal. The transaction was facilitated by Game Point Capital, an agency that assists professional and college teams in managing risks, with intermediary services provided by Greenlight Commodities.