Kalshi Sends Cease and Desist to Netflix Over Documentary Trailer

Prediction market platform Kalshi has sent a cease and desist letter to streaming giant Netflix following the release of a trailer for its new documentary, "Instadocs: The Prediction Games." The documentary explores the growing world of prediction markets, featuring platforms like Kalshi and Polymarket.

Kalshi claims the trailer is "defamatory" and includes "fabricated documents" that may be misleading. The dispute centers on a screenshot of a bet, valued at $5,000, placed on Kalshi for a contract titled "Will Spain win the 2026 FIFA World Cup?". Kalshi is currently banned in Nevada, making such a sports bet on the platform illegal in July 2026.

The platform asserts that the contract shown in the trailer was from May 2025, almost a year before Nevada's ban was enacted. Kalshi also alleges that a Netflix employee had agreed not to display the financial receipt in the documentary, yet it appeared in the trailer.

Netflix stands by its trailer, denying allegations of fabrication. A Netflix spokesperson told The Hollywood Reporter that footage was filmed at an event in Las Vegas on July 17, 2026. The individual featured showing the bet on Spain presented a screenshot of a trade made in May 2025, prior to any Nevada court order. Netflix maintains that any specific trades or bets referenced are between the individual and the application used.