[A La Liga team hedges relegation risk by betting on its own relegation through Kalshi] According to Semafor, a Spanish La Liga club, facing the risk of relegation, placed a bet on its own relegation through the Kalshi prediction market to hedge against potential revenue losses amounting to tens of millions of euros. Ultimately, the team successfully avoided relegation; although the bet was lost, the revenue from staying in the league far exceeded the losses. Counterparty Susquehanna profited over $1 million. The transaction was facilitated by intermediaries such as Game Point Capital and Greenlight Commodities.