Spotify asks Kalshi and Polymarket to remove brand logos, streaming manipulation incident impacts prediction market settlement

Odaily Odaily reported that Spotify has asked prediction market platforms Kalshi and Polymarket to remove its brand logos and clarified that there is no partnership between them, following the discovery that music streaming data used for platform settlements had been artificially manipulated.

Spotify stated that it has removed over 500,000 "fake streams." These abnormal plays had pushed certain songs into the platform's popular charts and were used by Kalshi to settle a prediction market regarding "the most popular songs on US Spotify in June," which involved a trading volume of approximately $3 million. Because the settlement used chart results from before the data correction, the relevant trades had initially identified a song as the winner. After completing its investigation, Spotify contacted both platforms to rectify the situation. Kalshi is reportedly investigating the incident, while Polymarket has not yet responded. (Bloomberg)