Spotify has asked prediction markets Kalshi and Polymarket to remove its logo and make clear that neither operates a partnership with the streaming service, after discovering manipulated streaming activity that affected song rankings used to settle prediction market bets.
The company removed more than 500,000 artificial streams that had pushed Malcolm Todd's "Earrings" into one of the most popular songs on its charts, Bloomberg reported Thursday.
Those inflated numbers had already been used to settle a Kalshi market pegged to the most-streamed Spotify song in the U.S. in June, which attracted $3 million in trading.
Todd was declared one of the winners on figures published before Spotify finished its investigation, according to the report. Spotify contacted both companies after identifying the problem.
Kalshi is reportedly investigating the matter. Polymarket did not immediately respond to Bloomberg. The Block has contacted the firms for comment.
