Controversy swirls over Spanish soccer club accused of using novel $600,000 Kalshi wager to bet on its relegation | Fortune
Club Atlético Osasuna’s insurance firm turned to prediction markets to hedge against getting booted to a lower division.
➤ Spanish soccer club Osasuna is embroiled in controversy over allegations of using a $600,000 wager on the prediction market Kalshi as a hedge against relegation, which the club denies. ➤ The club confirmed it used a traditional insurance policy with Howden, which allegedly offloaded risk onto Kalshi, a practice described as a novel hedging strategy. ➤ The incident highlights the growing use of prediction markets for financial hedging and has led to regulatory action against Kalshi and Polymarket in Spain, though the ministry states this is unrelated to the Osasuna controversy.

















