Spanish football club Atlético Osasuna denied placing a nearly $600,000 wager on Kalshi to hedge against relegation losses, according to fortune.com. The controversy arose after reports linked the club to a surge in betting activity on whether Osasuna would be relegated from LaLiga in the 2025-2026 season. The club faced potential financial setbacks if relegated following their May 23 match against Getafe FC.
The Kalshi platform, known for prediction markets on sports and other events, saw nearly 3.5 million contracts purchased on Osasuna’s relegation outcome, driving total bets to $591,600. Rumors suggested Osasuna might have influenced this volume to offset economic losses from dropping to a lower league. However, an Osasuna spokesperson told fortune.com that the club did not place any bets or have any direct relationship with Kalshi or similar entities.
Relegation in LaLiga significantly impacts clubs’ broadcasting revenues and rankings, making financial hedging strategies a topic of interest. The use of prediction markets like Kalshi for such bets is novel in professional soccer, raising questions about transparency and ethics. Atlético Osasuna’s denial highlights concerns about potential conflicts of interest and the role of emerging betting platforms in sports finance.
Osasuna’s statement to fortune.com clarified that the club had no participation in the Kalshi market, distancing itself from the $591,600 wager volume. The May 23 match against Getafe FC remained the decisive event for the club’s league status and financial outlook.