Kalshi Demands Netflix Remove ‘Misleading’ Prediction Market Doc Trailer

Kalshi has told Netflix to take down the trailer for Instadocs: The Prediction Games, accusing the streaming giant of faking a scene to make it look like trades were happening on its site despite a Nevada court order. 

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In a cease‑and‑desist letter dated July 24 and sent to Netflix’s Director & Senior Counsel for Intellectual Property Lindsey Faivus, the company said the trailer relied on “fabricated documents and false and misleading statements” and demanded both the removal of the clip and a public correction within an hour. 

The disputed footage shows a World Cup watch party in Las Vegas where one attendee announces, “I like betting on Kalshi,” before flashing what looks like a $5,000 receipt for a wager on Spain to win the tournament. Another voice in the room claims, “The guys in this house have made millions of dollars on prediction markets.” 

Kalshi says numbers on video don’t add up

The leading prediction market company says the clip wrongly suggests that a sports contract trade happened in Nevada on July 19, 2026, even though a court order has barred it from offering such contracts in the state since May.

According to Kalshi, that impression is not only misleading but could also damage its ongoing legal fight with Nevada regulators.

In its response, Kalshi went through the supposed receipt shown in the video piece by piece. It noted that the image carried a date of May 16, 2025, which is more than a year before the documentary claims the trade occurred.

The phone screen also displayed the word “Crop,” which Kalshi argues shows the participant was presenting a saved image rather than using the app directly. It also said the Spain market had only about $580 in total trading volume during May 2025, making the alleged $5,000 trade impossible.

Kalshi added that its platform has never used terms such as “Bet Slip,” “Bet ID,” or “wager,” all of which appeared in the video.

“The preview they released features a Kalshi trade slip that’s completely fabricated – it looks nothing like our UI. It’s either photoshopped or AI-generated,” Brandon Beckhardt, the company’s chief of staff, stated on an X post.

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“Netflix had a chance to make a genuinely interesting documentary about prediction markets. Instead, they made a sensationalized film built on fiction.”

Netflix denies fabricated claims

Netflix has rejected Kalshi’s accusations that the trailer for Instadocs: The Prediction Games used fake material.

A spokesperson told CNN that the trade highlighted in the clip was placed in 2025, well before any court orders restricted Kalshi’s activity in Nevada. “Netflix upholds the highest standards of journalistic integrity in its documentary programming,” the spokesperson said. “No footage in Instadocs: The Prediction Games was fabricated.” 

Kalshi, however, insists it raised concerns directly with a Netflix editor before the trailer was released. In its letter, the company says the employee admitted they had not noticed the receipt was dated a year earlier or seen the “Crop” label at the top of the image. 

According to Kalshi, the editor agreed the receipt would not appear in the finished documentary but refused to remove it from the trailer, allegedly saying they were “not worried about that” even after Kalshi warned the footage could cause legal problems.

“We flagged the fake trade slip to. They said they’d pull the trailer. They haven’t,” Beckhardt said on X.

The company also points to the setting of the gathering shown in the documentary. It took place at a residence owned by a casino during a World Cup party hosted by Winible, which one participant described as “essentially OnlyFans for the sports betting creator economy.” 

Kalshi argues this detail matters because Winible has ties to sportsbooks and casinos, while Kalshi itself is locked in legal battles with casino operators over the future of prediction markets.

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Source: ReadWrite