Kalshi sends cease-and-desist to Netflix over trailer

On July 24, 2026, prediction market company Kalshi sent a cease-and-desist letter to Netflix, threatening legal action over a trailer for an upcoming documentary that it claims contains defamatory and fabricated content. The documentary, "The Prediction Games," part of Netflix's Instadocs series, is scheduled to premiere on July 26, 2026. Kalshi has demanded that Netflix immediately remove the trailer and issue a public retraction, alleging that the preview falsely implies the company allowed sports betting in Nevada in violation of a state court order.

The dispute centers on a scene in the trailer depicting a private gathering in Las Vegas during the weekend of the 2026 FIFA World Cup final, which was held on July 19. In the footage, a guest holds up a phone displaying what appears to be a Kalshi trade slip and describes a $5,000 wager on Spain's victory. Kalshi argues that the editing creates the misleading impression that the trade was placed in Nevada in July 2026, while the company has been barred from offering sports event contracts in the state since May 4, 2026, under a preliminary injunction.

Kalshi contends that the trade slip shown is fabricated or altered. The...