Spanish La Liga Team Denies Using Kalshi to Hedge Against Relegation

La Liga’s Club Atlético Osasuna has pushed back against reports linking it to a controversial €1.2 million relegation hedge placed on prediction market Kalshi. Osasuna says it hedged relegation risk through insurance, not Kalshi. A Semafor report alleged the Spanish club traded millions on relegation outcome. However, Kalshi position matched insurance policy’s €1.2m stake and €6m payout. The club denies any involvement with Kalshi, stating that their risk management was handled through traditional insurance means.

The report sparked controversy, with many questioning the ethics of a sports team betting on their own relegation. Osasuna’s denial has eased some concerns, but the incident highlights the need for clarity on the use of prediction markets in sports.