Spanish La Liga Club Owner Bets Millions on Kalshi to Hedge Relegation Risk

A Spanish La Liga football club owner placed millions of dollars in bets on Kalshi to hedge the club’s relegation risk, and the team ultimately avoided relegation despite losing its final match 1-0. According to NS3.AI, Susquehanna served as the counterparty to the wagers and profited more than $1 million from the deal. The report described the bets as a hedge tied to the club’s relegation outcome, with the owner using the Kalshi market to manage financial exposure linked to the team’s league status.