A La Liga team hedged its revenue loss risk by betting on its own relegation in Kalshi.

CoinFeed reported on June 9th that, according to Semafor, a Spanish La Liga club, facing relegation, hedged against potential revenue losses of tens of millions of euros by betting on its own relegation through the Kalshi prediction market. The team ultimately avoided relegation, and although the bet was lost, the revenue from avoiding relegation far outweighed the losses. The counterparty in the deal, Susquehanna, profited over $1 million. The transaction was completed through intermediaries including Game Point Capital and Greenlight Commodities.