Kalshi asks Netflix to pull trailer for prediction markets documentary
What's the story
Kalshi, a prediction market platform, has sent a cease-and-desist letter to Netflix. The letter demands the removal of the trailer for "Instadocs: The Prediction Games," an upcoming documentary about prediction markets. Kalshi claims that the trailer is "defamatory" and contains "both fabricated documents and false and misleading statements."
Film details
'Instadocs: The Prediction Games'
"Instadocs: The Prediction Games" is part of Netflix's "Instadoc" series, which features fast-turnaround documentaries.
The film includes interviews with Polymarket CEO Shayne Coplan and Kalshi CEO Tarek Mansour.
However, the trailer mainly highlights a recent Las Vegas event where successful prediction market traders gathered to watch the World Cup final.
Dispute details
Kalshi's legal stance
At the Las Vegas event, one guest said, "I like betting on Kalshi," while another displayed a screenshot of a $5,000 bet on their phone.
However, Kalshi is currently prohibited from operating in Nevada due to a court order.
The company contends that the bet shown was made on May 16, 2025, before the ban, and that Netflix has misled viewers into thinking this person could trade sports event contracts in Nevada on July 19, 2026.
Communication breakdown
Kalshi and Netflix's conflicting statements
Kalshi also claimed that a Netflix employee had agreed not to include the receipt in the documentary's final cut.
Despite this agreement, the company said Netflix refused to remove it from the trailer currently available on its app.
In response, a Netflix spokesperson confirmed that while they don't dispute the screenshot is from 2025, all documentary footage was authentic.