Overview
- Kalshi sent Netflix a cease-and-desist on Friday accusing the streamer of showing a fabricated Kalshi trade in the trailer for Instadocs: The Prediction Games and demanding the clip be removed.
- The trailer, filmed at a Winible World Cup watch event in Las Vegas, includes a brief shot of an apparent $5,000 Kalshi trade; Netflix says that screenshot was from May 2025 and was not created for the film.
- Kalshi says the image contains UI elements the company never uses and that the trailer misleadingly implies trades were made in Nevada in violation of a court order that bars sports-event contracts there.
- Netflix released the documentary on Sunday while the factual dispute and broader litigation continue, with recent court actions in Washington and pending Nevada hearings that could affect Kalshi’s operations.
- Prediction markets are regulated in a contested mix of federal oversight and state gambling laws, and the controversy highlights reputational and evidentiary risks as courts weigh whether these platforms must block sports markets.