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Prediction market Kalshi on Friday threatened legal action against Netflix unless the streaming giant agrees to take down a trailer for an upcoming documentary about prediction markets.
In a cease-and-desist letter sent to Netflix on Friday, Kalshi’s head of litigation, Jovalin Dedaj, alleged that the trailer contains “false and misleading statements.”
On Thursday, Netflix released footage from “Instadocs: The Prediction Games,” which is set to premiere on Sunday. The trailer depicts influencers watching the World Cup final in a Las Vegas mansion and discussing their bets on prediction sites like Kalshi.
The state of Nevada has a court order requiring Kalshi to block sports-related bets in the state, and it is unclear whether the bets featured in this trailer were made before or after that restriction went into effect on May 4. The trailer indicates that the clips are from July 19, 2026.
At one point, one of the influencers holds up his phone to display a receipt from a sports event contract with Kalshi and says that he “put $5,000 on Spain to win the whole thing,” referring to the tournament’s final match.
A Netflix spokesperson told The Hill that this receipt was a screenshot from a bet placed on the prediction market platform in May 2025 — around a year before this court order.
“The clip misleadingly indicates that the individual is trading sports event contracts while located in Nevada, despite the court order prohibiting such activity,” Dedaj wrote in his letter to Netflix. “However, upon close inspection, the displayed receipt in the Netflix trailer appears to have been entirely fabricated.”
The Netflix spokesperson addressed Kalshi’s claims in their statement, saying that “no footage” in this documentary “was fabricated.”
“Any specific trades or bets referenced during that weekend are between the individual and the app in which they placed the trades,” the company spokesperson said.
Brandon Beckhardt, the marketing lead at Kalshi, criticized the doc as a “sensationalized film built on fiction” in a statement shared with The Hill.
“The preview they just released features a Kalshi trade slip that’s completely fabricated – it looks nothing like our UI,” he said, adding that it appears to be “either photoshopped or AI-generated.”
Beckhardt said that the company flagged their concern to the streaming platform and requested that they take down the trailer.
“They haven’t,” he said. “We expect better from Netflix.”
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