Spotify Demands Kalshi, Polymarket Remove Logo After Detecting 500K Fake Plays Used in $3M Prediction Markets

According to Bloomberg, on July 3, Spotify demanded that prediction market platforms Kalshi and Polymarket remove its logo and clarified that no partnership exists between them. The action followed Spotify's discovery of manipulated song charts used to settle prediction market contracts.

Spotify identified and removed over 500,000 anomalous plays that had artificially boosted a song to the top of its U.S. chart. The fraudulent streaming data was subsequently used to settle a Kalshi prediction market contract on the most-played song in the U.S. during June, which accumulated approximately $3 million in trading volume.