BUSINESSSEMAFOR
A soccer team bet against itself. This is the (good) future of prediction markets.
A top-tier Spanish soccer team used Kalshi, a prediction market platform, to place a multimillion-dollar bet against itself to avoid relegation. The team won its final game, retaining its La Liga status, while Susquehanna, a quant trading firm, profited over $1 million from the bet. The trade involved intermediaries like Game Point Capital and Greenlight Commodities, highlighting prediction markets' growing role in institutional risk management.
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