Spotify Removes Streams of No. 1 Song After Suspicious Kalshi Bets
Spotify said it found artificial streaming and cut more than 500,000 plays, sending Malcolm Todd’s “Earrings” from No. 1 to No. 4.
- On Wednesday, Spotify culled over 500,000 artificial streams from musician Malcolm Todd's song "Earrings" after discovering suspicious bets related to the track on prediction market Kalshi.
- Top Kalshi trader Caleb Davies flagged the activity after the track jumped 70% overnight Sunday, alleging "botting" to manipulate charts and influence prediction market contracts.
- Davies calculated the surge as a statistical anomaly, writing, "It was a 11.24 sigma event," and contacted Spotify, Kalshi, and Polymarket with evidence of the suspected manipulation.
- Kalshi spokesperson Annabel Walsh stated, "It's actually not plausible," while Spotify requested the platform remove its logo and adjust language suggesting verified chart results.
- The Commodity Futures Trading Commission regulates prediction markets, where critics warn that participants with inside knowledge could potentially profit from such platforms.
29 Articles
29 Articles
Spotify and Kalshi Under Fire for Allegedly Tampering With Spotify’s Charts for Music Prediction Markets
In modern America, it feels like everything is gambling. Companies like Kalshi and Polymarket are essentially monetizing every piece of our day. You can bet on anything from sports to what the weather will look like tomorrow. It’s extremely morbid, and music has felt its effects firsthand. In a new report from WIRED, traders on Kalshi have been accused of manipulating Spotify’s charts in favor of Malcolm Todd’s “Earrings”. In skewing the numbers…
(Los Angeles = Yonhap News) Correspondent Kim Kyung-yoon = As online prediction betting markets such as Polymarket and Calci grow rapidly, manipulating music chart rankings to claim dividends...
One piece was artificially propelled to the top of the ranking to allow Kalshi platform betters to earn money.
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