Kalshi and Netflix clash over defamatory claims in prediction markets documentary
Kalshi alleges Netflix’s upcoming documentary contains fabricated documents and false statements regarding a $5,000 bet, while the streamer maintains the footage is authentic and filmed prior to the company’s regulatory ban in the state.
Prediction market operator Kalshi has issued a cease-and-desist letter to Netflix, demanding the immediate removal of the trailer for the documentary Instadocs: The Prediction Games. Sent on Friday, 25 July 2026, the correspondence accuses the streaming giant of defamation, alleging the trailer contains fabricated documents and false, misleading statements that damage the company’s reputation.
The dispute centres on a specific scene within the trailer that depicts a $5,000 bet placed on a mobile phone. Kalshi argues that the editing misleads viewers into believing the individual was trading sports event contracts in Nevada on 19 July 2026. This date coincides with the World Cup final, a period during which Kalshi is banned from operating in the state due to a court order.
In its legal submission, Kalshi asserts that the screenshot actually depicts a transaction made on 16 May 2025, well before the regulatory ban took effect. The company contends that presenting the footage in this context implies illegal or unauthorised activity during a time when the platform was prohibited from functioning in the jurisdiction.
Netflix has disputed the allegations of fabrication, maintaining that the footage was filmed at the Winible World Cup Watch Weekend in Las Vegas on 17 July 2026. A spokesperson clarified that while the bet shown was indeed made in May 2025, the footage itself is authentic and not manipulated. The spokesperson stated that any specific trades referenced are between the individual and the application used.
The documentary, part of Netflix’s Instadoc series, features interviews with Polymarket CEO Shayne Coplan and Kalshi CEO Tarek Mansour. Kalshi noted in its letter that a Netflix employee previously agreed not to feature the receipt in the full documentary, scheduled for release on Sunday, 26 July 2026. However, the company claims that despite being shown evidence that the trailer’s claims were demonstrably false, Netflix refused to remove the receipt from the promotional material currently circulating on the app’s homepage.
