Kalshi Sends Netflix Cease-and-Desist Over Documentary Trailer
Original: Kalshi demands Netflix take down trailer for ‘Prediction Games’ documentary
Why This Matters
The dispute highlights growing regulatory and reputational tensions surrounding prediction market platforms operating under state-level restrictions.
Prediction market platform Kalshi sent Netflix a cease-and-desist letter on July 25, 2026, demanding removal of the trailer for 'Instadocs: The Prediction Games,' citing a screenshot of a bet allegedly misrepresented as occurring while Kalshi is banned in Nevada.
Kalshi sent Netflix a cease-and-desist letter on Friday, claiming the trailer for the upcoming Netflix documentary 'Instadocs: The Prediction Games' is 'defamatory' and contains 'fabricated documents and false and misleading statements.' The documentary, part of Netflix's fast-turnaround 'Instadoc' series set to release July 26, 2026, covers the rise of prediction markets and features interviews with both Polymarket CEO Shayne Coplan and Kalshi CEO Tarek Mansour. The disputed trailer shows a party in Las Vegas where one attendee displays a $5,000 bet on Kalshi. However, Kalshi is currently banned from operating in Nevada under a court order. Kalshi argues the screenshot actually shows a bet placed on May 16, 2025 — before the ban — but contends Netflix misled viewers into believing the trade occurred on July 19, 2026. Kalshi also stated a Netflix employee had agreed to remove the receipt from the documentary itself, but Netflix refused to pull it from the trailer. Netflix denied fabricating any footage, with a spokesperson telling The Hollywood Reporter that the screenshot was voluntarily shown by the trader and predated any Nevada court order.