Netflix’s newest documentary might be gaining the streaming giant more than just views.
Last Friday, Kalshi sent Netflix a cease-and-desist letter following the release of the trailer for a new documentary on prediction markets. Titled Instadocs: The Prediction Games, the film centers on the increasingly popular world of prediction markets with the rise of platforms like Kalshi and Polymarket—whose CEOs are set to appear in the doc.
The trailer follows a World Cup Final viewing party hosted in Las Vegas, with guests boasting about their use of prediction markets. In one case, a guest even showed off a $5,000 bet on Kalshi for a contract titled “Will Spain win the 2026 FIFA World Cup?”
The individual’s sport event contract has since become a point of contention between Netflix and Kalshi, who has called the trailer “defamatory,” claiming it contains “fabricated documents” that may be misleading. The issue arises because Kalshi is currently banned in the state of Nevada, making a sports bet on the platform in July 2026 illegal.
In the letter, Kalshi claims the event contract on-screen is actually a screenshot of a bet made last year in May 2025, almost a year before the ban was enacted in Nevada. The prediction market giant also claims that a Netflix employee had agreed not to show the receipt in the documentary, yet it appeared in the trailer.
“However—despite Kalshi demonstrating to this employee that the claims in the video were demonstrably false—Netflix inexplicably refused to remove the receipt from the trailer currently circulating on the homepage of the Netflix app,” Kalshi said in the letter.
Still, Netflix is standing by the trailer, saying the videos are not fabricated. “The footage was filmed at the Winible World Cup Watch Weekend in Las Vegas on July 17, 2026,” a Netflix spokesperson told The Hollywood Reporter. “The featured trader with the trade on Spain showed us a screenshot of his bet that was made in May 2025, prior to any Nevada court order. Any specific trades or bets referenced during that weekend are between the individual and the app in which they placed the trades.”
