Kalshi, a prominent prediction market platform, has issued a cease-and-desist letter to Netflix, demanding the removal of the trailer for the upcoming documentary “Instadocs: The Prediction Games.” Kalshi alleges that the trailer contains defamatory content, including fabricated documents and misleading statements.
The documentary, part of Netflix’s “Instadoc” series, explores the rise of prediction markets and features interviews with industry leaders, including Polymarket CEO Shayne Coplan and Kalshi CEO Tarek Mansour. The contentious trailer highlights a recent gathering in Las Vegas, where individuals who have reportedly earned substantial sums through prediction markets convened to watch the World Cup final. During the event, attendees discuss their experiences, with one expressing a preference for betting on Kalshi and another displaying a $5,000 bet on their phone.
Kalshi contends that the inclusion of this bet is misleading. The company points out that it is currently prohibited from operating in Nevada due to a court order. According to Kalshi, the bet shown in the trailer was actually placed on May 16, 2025, well before the ban was enacted. They argue that the trailer falsely implies that such trades were possible in Nevada as of July 19, 2026.
In its letter, Kalshi also mentions a recent conversation with a Netflix employee who agreed not to feature the disputed receipt in the final documentary, set for release on July 26. Despite this agreement, Netflix has not removed the receipt from the trailer, which continues to be prominently displayed on the platform’s homepage.
Netflix acknowledges that the bet in question was placed in 2025 but maintains that all documentary footage is authentic. A spokesperson stated that the footage was filmed during the Winible World Cup Watch Weekend in Las Vegas on July 17, 2026. They clarified that the trader featured with the bet on Spain showed a screenshot of his 2025 bet, made prior to any Nevada court order. Netflix emphasized that any specific trades or bets referenced during the event are between the individual and the app used for the trades.
This dispute underscores the complexities of representing financial activities in media, especially when regulatory restrictions are involved. As prediction markets gain popularity, accurate portrayal becomes crucial to maintain public trust and comply with legal standards. Observers will be keen to see how Netflix addresses these concerns ahead of the documentary’s release.
