Netflix will release a prediction market documentary on July 26, only days after World Cup trading brought Kalshi and Polymarket record attention. Kalshi already wants the trailer removed.
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Kalshi asked Netflix to remove the trailer for Instadocs The Prediction Games, according to CNN. The operator called the footage misleading and later threatened legal action in a letter that described parts of the film as “defamatory” and “fabricated.”
Netflix kept the trailer online through Friday.
The dispute centres partly on footage that appears to show traders attending a World Cup watch party in Nevada. A state court order currently prevents Kalshi from offering sports event contracts to Nevada users without a gaming licence. Kalshi argues at federal level that its contracts fall under Commodity Futures Trading Commission oversight rather than state gambling law.
Netflix framed the film around the scale and reach of prediction market trading.
“Last weekend, more than $5.6 billion was wagered on the World Cup final through Polymarket and Kalshi, representing just a sliver of the overall action on prediction markets – a legal but controversial way to gamble on the outcome of almost anything,” Netflix said.
The documentary also covers contracts tied to elections, weather, armed conflict and celebrity events. Netflix said tens of millions of people now use such markets.
Kalshi CEO Tarek Mansour appears in the film alongside Polymarket CEO Shayne Coplan and CFTC chair Michael Selig. Netflix describes the Instadocs format as a quick-turn documentary series built around current events.
World Cup activity gives the project a timely backdrop. Kalshi recorded about $27 billion in tournament trading volume and attracted roughly 3 million users during the competition.