Prediction market platform Kalshi has threatened Netflix with a defamation lawsuit over the trailer for its upcoming documentary The Prediction Games, claiming the streaming giant falsely suggested the company violated a Nevada court order, states Deadline.
According to CNN, Kalshi’s lawyers sent Netflix a cease-and-desist letter after the trailer showed traders celebrating profits from the recent FIFA World Cup final while partying in Las Vegas.
The company argued that the footage misleadingly implied trades were placed on Kalshi in Nevada after a court ordered the platform to block sports-related prediction markets in the state.
Kalshi said it has been complying with the order, which followed legal action by the Nevada Gaming Commission.
The letter reportedly accused Netflix of portraying “trades being made on Kalshi in violation of a court order” and warned that the trailer could damage the company’s reputation.
Netflix rejected the allegation, telling CNN that the trailer did not depict trades made after the court ruling.
A Netflix spokesperson said the featured trader had shown proof that the highlighted prediction on Spain winning the World Cup was placed in May 2025, before the Nevada court order took effect.
“The featured trader, with the trades on Spain, showed us a screenshot of his bet that was made in May 2025, prior to any Nevada court order,” the spokesperson said.
Kalshi, however, disputed that explanation, claiming the screenshot shown in the trailer was fabricated.
The company pointed out that it included the phrase “bet slip”, terminology Kalshi says it does not use because it is regulated as a prediction market rather than a gambling platform.
Although Kalshi allows users to trade on the outcomes of real-world events, it is regulated under commodities laws rather than gambling regulations.
However, the platform continues to face legal challenges in several US states seeking to restrict or regulate its operations.
The documentary, The Prediction Games, is scheduled to premiere on Netflix on Sunday. Kalshi chief executive Tarek Mansour also appears in the film.
Neither Netflix nor Kalshi has announced any further legal action following the exchange of letters.
