A La Liga team placed millions of dollars in bets on Kalshi to hedge against relegation risks

Odaily Planet Daily News A Spanish La Liga football club faced relegation risks before the final match of the season. To hedge against the loss of ticket and broadcasting rights revenue caused by relegation, the club's owner placed millions of dollars in bets on the prediction market Kalshi, wagering that the team itself would be relegated.

Ultimately, the club lost the final match 0-1 but still managed to avoid relegation. Sources familiar with the matter revealed that the counterparty in this transaction was the quantitative trading firm Susquehanna, which profited over $1 million from the deal. The transaction was facilitated by Game Point Capital, an institution that assists professional and college sports teams in risk management, with brokerage services provided by Greenlight Commodities. (semafor)