In an unexpected twist ahead of its anticipated release, streaming giant Netflix has found itself in a legal skirmish. Betting platform Kalshi has issued a strong warning, threatening legal action if Netflix does not retract the trailer for its upcoming documentary on prediction markets, titled “Instadocs: The Prediction Games.”
Kalshi’s legal representative, Jovalin Dedaj, dispatched a cease-and-desist letter to Netflix on Friday. The letter raises concerns over the trailer, claiming it is filled with “false and misleading statements” that could damage the platform’s reputation.
Just a day earlier, audiences got their first glimpse of the documentary through a gripping trailer released by Netflix. Scheduled for release on Sunday, the film showcases a group of influencers gathered in a lavish Las Vegas mansion, all eyes glued to the World Cup final, betting fervently on platforms such as Kalshi.
This cinematic spectacle, however, has courted controversy, particularly in Nevada. State regulations mandate that Kalshi disentangle itself from any sports-related betting within its borders. The enigma deepens as the trailer purportedly displays events from July 19, 2026, raising questions about whether the depicted wagers were placed pre- or post-restriction, which took effect on May 4.
Adding fuel to the fire, a notable moment features an influencer brandishing his smartphone to flaunt a betting slip linked to Kalshi. “I put $5,000 on Spain to win the whole thing,” he declares, alluding to his bet on the tournament’s grand finale. Such scenes have only intensified scrutiny, amplifying the call for Netflix to address Kalshi’s grievances.
A Netflix spokesperson told The Hill that this receipt was a screenshot from a bet placed on the prediction market platform in May 2025 — around a year before this court order.
“The clip misleadingly indicates that the individual is trading sports event contracts while located in Nevada, despite the court order prohibiting such activity,” Dedaj wrote in his letter to Netflix. “However, upon close inspection, the displayed receipt in the Netflix trailer appears to have been entirely fabricated.”
The Netflix spokesperson addressed Kalshi’s claims in their statement, saying that “no footage” in this documentary “was fabricated.”
“Any specific trades or bets referenced during that weekend are between the individual and the app in which they placed the trades,” the company spokesperson said.
Brandon Beckhardt, the marketing lead at Kalshi, criticized the doc as a “sensationalized film built on fiction” in a statement shared with The Hill.
“The preview they just released features a Kalshi trade slip that’s completely fabricated – it looks nothing like our UI,” he said, adding that it appears to be “either photoshopped or AI-generated.”
Beckhardt said that the company flagged their concern to the streaming platform and requested that they take down the trailer.
“They haven’t,” he said. “We expect better from Netflix.”