Spotify removed over 500,000 streams of the indie-pop song "Earrings" by Malcolm Todd. The song's streams surged by nearly 70% to reach the top of the U.S. charts. This spike coincided with suspicious betting activity on the prediction market platform Kalshi.
Kalshi has launched an investigation into the matter. Spotify requested that Kalshi and Polymarket remove its logo from their platforms. The company clarified that no partnership exists between the businesses. Spotify utilizes best-in-class detection and mitigation practices to ensure fair artist compensation and maintain user trust. The platform does not pay royalties on manipulated streams.