Prediction market Kalshi issued a cease-and-desist note to Netflix on Friday, insisting that the streaming platform remove the trailer for an upcoming documentary. In the notice, Kalshi asserted that the trailer is “defamatory” and includes “both fabricated documents and misleading statements.”

“Instadocs: The Prediction Games” is a documentary focusing on the growth of prediction markets. As per Netflix, the documentary — part of the streamer’s “Instadoc” series of quick-turnaround films — features conversations with both Polymarket CEO Shayne Coplan and Kalshi CEO Tarek Mansour.

The trailer emphasizes a recent gathering in Las Vegas, where men who have “earned millions on prediction markets, likely eight figures, just during the World Cup” have come together to witness the World Cup final. One guest expresses, “I enjoy betting on Kalshi,” while another flaunts a supposed $5,000 wager on their device.

Nonetheless, Kalshi is presently prohibited from functioning in Nevada due to a judicial ruling. In its cease-and-desist correspondence, Kalshi indicated that the wager displayed on the device is actually a screenshot of a bet placed on May 16, 2025 — well before the ruling. The firm contended that in the trailer, Netflix “misled its millions of viewers into thinking this individual was able to successfully trade sports event contracts in Nevada on July 19, 2026.”

In its communication, Kalshi also mentioned that it recently conversed with a Netflix staff member who “agreed not to showcase the receipt in the documentary when it debuts” on Sunday, July 26.

“However — despite Kalshi demonstrating to this employee that the assertions in the video were clearly false — Netflix inexplicably declined to eliminate the receipt from the trailer currently available on the homepage of the Netflix application,” the company stated.

Netflix does not contest that the screenshot is from a 2025 wager, but a representative informed The Hollywood Reporter that none of the documentary footage was altered.

“The footage was recorded at the Winible World Cup Watch Weekend in Las Vegas on July 17, 2026,” the representative noted. “The trader shown with the trade on Spain provided us a screenshot of his bet, made in May 2025 before any Nevada court ruling. Any specific trades or wagers mentioned during that weekend are between the individual and the application in which they executed the trades.”