Controversy swirls over Spanish soccer club accused of using novel $600,000 Kalshi wager to bet on its relegation

Spanish football club Osasuna denied placing a $600,000 bet on Kalshi to hedge against relegation, confirming instead it secured a €1.2 million insurance policy with Howden. Kalshi stated the insurance broker offloaded risk via its platform, clarifying Osasuna had no direct involvement. The controversy arose after reports of a high-volume wager on Osasuna's 2025-2026 relegation risk.