Prediction market platform Kalshi has sent a cease and desist letter to Netflix, demanding the removal of the trailer for its upcoming documentary, "Instadocs: The Prediction Games." Kalshi argues that the trailer contains inaccuracies and misleading information about its business operations in Nevada.
The controversy centers on screenshots of betting.
This documentary chronicles the development of the prediction market industry. According to Netflix, the film features interviews with Polymarket CEO Shayne Coplan and Kalshi CEO Tarek Mansour.
However, the trailer primarily showcases a World Cup final viewing party in Las Vegas. In the video, someone mentions their enjoyment of betting on Kalshi, while another participant displays what appears to be a $5,000 bet on their phone.
In its letter, Kalshi stated that the screenshot actually dates from May 16, 2025, and is not a new transaction from the July 2026 event. The company believes that this editing method would mislead viewers into believing that the user could still trade sports event contracts through Kalshi in Nevada on July 19, 2026.
The Nevada ban is the core background.
Kalshi is currently prohibited from operating in Nevada due to a court order, which is the core background of this controversy. The company claims that placing old screenshots in the context of the event could easily mislead outsiders about its compliance status in the state.
Kalshi also stated that the company recently communicated with a Netflix employee, who agreed not to use the betting screenshot when the documentary is officially released. However, Kalshi claims that Netflix has not yet removed the image from the trailer already circulating on the app's homepage.
Netflix says the footage was not fabricated.
Netflix did not deny that the screenshots were from 2025, but refuted claims of "fabricated material." A company spokesperson stated that the documentary footage was real and not fictional.
According to Netflix, the video was filmed on July 17, 2026, at a World Cup viewing event in Las Vegas. The participant showing the screenshot of the Spanish betting transaction in the video presented the filming crew with a screenshot of a betting slip placed in May 2025, earlier than the Nevada court injunction.
Netflix also stated that the specific transactions or bets mentioned during the event were matters between the individuals and the apps they used. The documentary will be released on July 26, thus bringing the dispute between the two parties regarding the trailer's content to light ahead of schedule.
