Prediction market operator Kalshi has sent a cease and desist letter to Netflix, accusing the streaming giant of defamation over a trailer for its upcoming documentary 'Instadocs: The Prediction Games'. The letter, dated July 24, 2026, was obtained by CNN and The Hollywood Reporter.
The allegations
Kalshi's letter claims the trailer contains defamatory statements about the company. The prediction market operator argues that the content misrepresents its business and could harm its reputation. The letter demands that Netflix remove the trailer and cease further distribution. It does not specify which parts of the trailer are allegedly defamatory, but the accusation is serious enough to warrant legal action.
What is Kalshi?
Kalshi is a regulated prediction market platform where users trade contracts on the outcomes of real-world events — from election results to economic data releases. The company has positioned itself as a legitimate alternative to unregulated betting markets, operating under oversight from the Commodity Futures Trading Commission. Its business model relies on public trust in the accuracy and fairness of its markets.
The documentary
Netflix's 'Instadocs: The Prediction Games' is described as an upcoming documentary. The trailer, which sparked Kalshi's complaint, appears to focus on the world of prediction markets and the people who trade them. The exact content of the trailer is not publicly known beyond the allegations in the letter. Netflix has not yet commented on the dispute.
The cease and desist letter puts Netflix on notice that Kalshi is prepared to escalate the matter if the trailer is not addressed. The streaming service has not publicly responded to the letter, and the documentary's release date has not been announced. The letter was first reported by CNN and The Hollywood Reporter, who obtained a copy.
