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Prediction market Kalshi sent Netflix a cease-and-desist letter on Friday demanding that the streaming service take down the trailer<\/a> for an upcoming documentary. In the letter, Kalshi claimed the trailer is \u201cdefamatory\u201d and contains \u201cboth fabricated documents and false and misleading statements.\u201d<\/p>\n \u201cInstadocs: The Prediction Games\u201d is a documentary about the rise of prediction markets. According to Netflix, the film \u2014 part of the streamer\u2019s \u201cInstadoc\u201d series of fast-turnaround documentaries\u00a0 \u2014 features interviews with both Polymarket CEO Shayne Coplan and Kalshi CEO Tarek Mansour.<\/p>\n The trailer, however, focuses on a recent party in Las Vegas, where men who have \u201cmade millions of dollars on prediction markets, probably eight figures, just over the course of the World Cup\u201d have gathered to watch the World Cup final. One of the guests declares, \u201cI like betting on Kalshi,\u201d while another shows off an apparent $5,000 bet on their phone.<\/p>\n However, Kalshi is currently banned from operating in Nevada<\/a> due to a court order. In its cease-and-desist letter, Kalshi said the bet shown on the phone is actually a screenshot of a bet made on May 16, 2025 \u2014 long before the ban. But the company argued that in the trailer, Netflix \u201cmisled its millions of customers into believing this individual was able to successfully trade sport event contracts in Nevada on July 19, 2026.\u201d<\/p>\n In its letter, Kalshi also said that it recently spoke to a Netflix employee who \u201cagreed not to feature the receipt in the documentary when it is released\u201d on Sunday, July 26.<\/p>\n \u201cHowever \u2014 despite Kalshi demonstrating to this employee that the claims in the video were demonstrably false \u2014 Netflix inexplicably refused to remove the receipt from the trailer currently circulating on the homepage of the Netflix app,\u201d the company said.<\/p>\n Netflix doesn\u2019t dispute that the screenshot is of a bet from 2025, but a spokesperson told The Hollywood Reporter<\/a> that none of the documentary footage was fabricated.<\/p>\n \u201cThe footage was filmed at the Winible World Cup Watch Weekend in Las Vegas on July 17, 2026,\u201d the spokesperson said. \u201cThe featured trader with the trade on Spain showed us a screenshot of his bet, that was made in May 2025 prior to any Nevada court order. Any specific trades or bets referenced during that weekend are between the individual and the app in which they placed the trades.\u201d<\/p>\n<\/div>\n When you purchase through links in our articles, we may earn a small commission<\/a>. This doesn\u2019t affect our editorial independence.<\/em><\/p>\n