Report: Kalshi Accuses Netflix of Defamation Over Trailer for New Prediction Markets Film

Kalshi wants the trailer pulled and a nationalist retraction issued earlier the movie premieres Sunday, July 26. The institution says the trailer uses a fabricated commercialized gaffe to suggest Kalshi allowed sports betting successful Nevada successful usurpation of a authorities tribunal order, according to reports from The Hollywood Reporter and CNN, which obtained the cease and desist letter.

The upcoming documentary tracks the emergence of prediction markets, platforms wherever radical commercialized contracts tied to existent events. Netflix says much than $5.6 cardinal moved done Kalshi and Polymarket unsocial connected the 2026 FIFA World Cup final. Reports authorities that CFTC Chairman Michael Selig, Kalshi CEO Tarek Mansour, and Polymarket CEO Shayne Coplan each look successful the film, which comes from shaper Words + Pictures with Steve Yaccino arsenic showrunner.

The Disputed Scene

The trailer, released earlier this week, shows a backstage gathering successful Las Vegas during World Cup last weekend. It has been claimed that 1 impermanent successful the trailer holds up a telephone displaying what looks similar a Kalshi commercialized gaffe and describes a $5,000 stake connected Spain, which bushed Argentina 1-0 successful the July 19 final.

Kalshi says the representation tells a antithetic communicative than the trailer implies. The receipt is dated May 16, 2025, much than a twelvemonth earlier the events shown connected screen. The telephone show reads “crop,” which Kalshi says shows the idiosyncratic was viewing a saved representation alternatively than an progressive trade. The institution besides says the gaffe does not lucifer its interface and uses the operation “bet slip,” connection it claims has ne'er appeared connected its platform.

Kalshi selling caput Brandon Beckhardt said the institution flagged the contented to Netflix earlier the trailer went out. “We flagged the fake commercialized gaffe to Netflix. They said they’d propulsion the trailer. They haven’t,” Beckhardt said successful a connection connected X. He described the radical successful the country arsenic influencers alternatively than Kalshi traders.

Beckhardt stated:

“Netflix had a accidental to marque a genuinely absorbing documentary astir prediction markets. Instead, they made a sensationalized movie built connected fiction.”

Kalshi has told Netflix it has barred sports lawsuit contracts successful Nevada since May 4, 2026, and argues the trailer puts that ineligible presumption astatine hazard during progressive litigation with the state.

Netflix Pushes Back

Netflix denies fabricating footage successful a connection shared with The Hollywood Reporter. A Netflix spokesperson said the disputed commercialized was placed successful May 2025, earlier immoderate Nevada restrictions connected Kalshi existed, and that the country was filmed astatine a backstage Winible World Cup Watch Weekend lawsuit successful Las Vegas. Winible, a level tied to sports contented creators, said the commercialized was placed extracurricular Nevada and that tracking a presumption from immoderate determination is legal.

Nevada’s Regulatory Fight

The quality sits inside a longer battle betwixt Kalshi and the Nevada Gaming Control Board. A impermanent restraining bid arrived successful March 2026, followed by a preliminary injunction and an amended bid connected May 18, requiring geofencing to artifact Nevada users from prohibited contracts.

Kalshi precocious reached a woody with Nevada to deploy a multi-source geofencing strategy done a supplier specified arsenic Geocomply. The institution has until August 12, 2026, to decorativeness the rollout oregon look penalties of $120,000 per day.

Gaming lawyer Daniel Wallach pointed to a timing problem. He noted Kalshi told Netflix it has barred Nevada sports trading since aboriginal May, portion tribunal filings astir the aforesaid play referenced trades that got done during the injunction period. Wallach said the overlap could weaken parts of Kalshi’s defamation claim, which depends connected the trailer’s accusation being wholly false.

Why It Matters

Prediction markets grew accelerated successful 2025 and 2026 connected the backmost of national clarity for lawsuit contracts and high-profile moments similar elections and the World Cup. Kalshi and Polymarket present pb the U.S. market, portion authorities gaming regulators successful Nevada, Michigan, Washington and Massachusetts person pushed back with lawsuits and restrictions.

The unresolved question of CFTC authorization implicit authorities gaming instrumentality present sits down a documentary quality with existent ineligible weight. Kalshi cooperated with the film’s production, yet moved to artifact the trailer erstwhile it aired. As of July 25, the trailer was inactive circulating and Netflix had not confirmed immoderate changes up of the Sunday premiere.