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Netflix has been threatened with legal action by Kalshi, which accuses the streaming giant of defamation over a trailer for an upcoming documentary that showed traders making wagers in a state it’s not allowed to operate.
In a cease-and-desist, Kalshi demanded Netflix to immediately take down the trailer for Instadocs: The Prediction Market Games and issue a public retraction. It said that the video falsely suggests that users traded sports events contracts on Kalshi in Nevada in violation of a court order.
In the trailer, a brief scene shows several people gathered at a house in Nevada discussing prediction markets during the 2026 FIFA World Cup. One participant holds up what appears to be a Kalshi transaction receipt and says, “I like betting on Kalshi” before claiming he placed a $5,000 wager on Spain to win the tournament.
The prediction market operator is currently barred from offering event-based contracts that would allow Nevada residents to place bets on sports under a court order issued as part of ongoing litigation with state regulators. The letter argued that Netflix falsely portrays the company of violating the injunction by implying that the trade in the trailer occurred in July 2026.
