Kalshi Settles With Nevada Amid Netflix Dispute Over Sports Prediction Market Documentary

Kalshi has settled with the Nevada Gaming Control Board (NGCB) following a preliminary injunction that prohibited the platform’s sports prediction market in the state. This comes as the platform threatens Netflix with a defamation suit over a documentary that featured bets allegedly placed by traders on the platform in Las Vegas.

Kalshi Settles With Nevada Over Sports Prediction Market Ban

In a release, the Nevada Gaming Control Board announced that it reached an agreement with the prediction market platform to stop the platform’s continued unlawful operation in the state. As part of the agreement, the prediction market platform has agreed to implement a geofencing solution to prevent anyone in the state from placing bets on the platform’s sports contracts.

The Board also revealed that Kalshi has already begun the implementation process and must complete it by August 12 or pay a penalty of $120,000 daily to the Board until the process is complete. This follows the court’s ruling against Kalshi after it sought to overturn the ban on its sports prediction market in the state.

A state court had initially entered a preliminary injunction prohibiting the platform’s sports contracts in the state. Despite the order, the Nevada Gaming Control Board investigators were able to place bets on sports contracts on the platform.

Kalshi also admitted that these investigators were able to enter sports, election, and entertainment-related event contracts from within the state, which violated the court’s order.

Dispute With Netflix Over Documentary

Amid the settlement with the Nevada Gaming Control Board, Kalshi is in a dispute with Netflix over a sports prediction market documentary that the streaming platform plans to release. In the trailer, Netflix had signaled that the supposed Kalshi traders entered into sports contracts on Kalshi while in Las Vegas, which potentially violates the court order.

In its defense, the top sports prediction market platform has sent a cease-and-desist letter to Netflix over the documentary. The platform is threatening legal action, claiming that the content in the trailer is defamatory.

In an X post, Kalshi’s Brandon Beckhardt stated that the trailer features a Kalshi trade slip that is completely fabricated and looks nothing like their UI. “The people in the trailer aren’t even Kalshi traders, they’re a group of influencers. Is anything in this documentary real?” he added.

Netflix had a chance to make a genuinely interesting documentary about prediction markets.

Instead, they made a sensationalized film built on fiction.

The preview they released features a Kalshi trade slip that’s completely fabricated – it looks nothing like our UI. It’s either… https://t.co/ELm2ooLEqU

— Brandon Beckhardt (@beckhardt) July 24, 2026

He also revealed that they flagged the fake trade slip to Netflix, and the streaming platform said it would pull the trailer, but it hasn’t. Meanwhile, legal expert Daniel Wallach pointed out that Kalshi may have made false claims in the cease-and-desist letter.

The platform said that it actively prohibited trading of sports contracts in Nevada since May 4. However, it admitted in court that it accepted sports trades in Nevada after that period. Walalch also pointed out that Kalshi sent the letter after the admission in court.