Prediction market platform Kalshi reportedly issued a cease-and-desist letter to Netflix Inc. (NASDAQ:NFLX) on Friday, demanding the streamer pull the trailer for its upcoming documentary “Instadocs: The Prediction Games.”
Trailer Sparks Legal Dispute Over Nevada Ban
Kalshi called the trailer “defamatory,” alleging it uses fabricated documents and misleading statements, TechCrunch reported on Saturday. The dispute centers on footage from a Las Vegas World Cup watch party showing a guest’s apparent $5,000 bet on Kalshi. The company noted it’s currently barred from operating in Nevada under a court order, and said the screenshot actually dates to May 2025, before the ban took effect.
According to the report, Kalshi’s letter also said a Netflix employee had “agreed not to feature the receipt” in the film.
Netflix Stands By Its Reporting
A Netflix spokesperson told The Hollywood Reporter that the footage was real and not fabricated. The spokesperson said it was filmed on Jul. 17 during a watch event in Las Vegas, and that the trader’s screenshot was taken before the Nevada ruling.
Kalshi and Netflix did not immediately respond to Benzinga‘s requests for comment.
The documentary is part of Netflix’s Instadoc series and features Kalshi CEO Tarek Mansour and Polymarket CEO Shayne Coplan. It premieres on Sunday.
The clash adds to Kalshi’s growing regulatory challenges. The company recently sued Minnesota, along with the Commodity Futures Trading Commission, over a state law that makes its event contracts a criminal offense.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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