Spotify has removed nearly 500,000 streams of Malcolm Todd’s hit song “Earrings” days after the song topped the platform’s US daily chart for the first time, with its rise linked to bet-based manipulation in prediction market Kalshi.
Spotify has asked both Kalshi and Polymarket to remove their logos from their websites, a company source confirmed Hollywood Reporterwhich further confirms that the streaming service has never had a partnership with either company.
“All streaming services face ongoing stream manipulation,” the company said in a statement. “Spotify has best practices for detecting and mitigating manipulated streams, and we do not pay the associated royalties.”
As of the date this story was published, there is no indication that Todd or his team were affiliated with the livestream manipulation operation. Todd is one of the fastest rising songs in the industry, and “Earrings” has been floating in the top 5 of Spotify’s daily charts in the US for weeks, helping the song become a ripe target for punters. On Sunday, the song ranked fourth on Spotify’s daily chart, and by Monday, the song had reached number one. the Financial Times It reported that the daily jump represented a 70 percent rise. “Earrings” has remained at No. 3 on Spotify’s chart for the past two days.
Spotify source said THR Due to the activity, Spotify will “add additional checks to the charts before publishing them.”
“We are in contact with Spotify and are actively investigating this matter,” a representative for Kalshi said.
The incident reflects potentially broader industry-wide problems that could surface as prediction markets turn entertainment business charts into honest betting lines. As of the publication of this story, Calci lists dozens of different props based on charting results from Spotify and Bulletin board. Streaming services have actually seen some level of chart manipulation attempts for years in both the most nefarious scam schemes as well as armies of stans trying to help their favorite acts top the charts. The idea that the average music listener can now benefit from the results they have the opportunity to manipulate only serves to stimulate activism.
Aside from the music charts, earlier this year, a MrBeast editor was accused of insider trading via YouTuber Kalshi’s videos.
However, while problems abound, prediction markets are seeking to embed themselves further into Hollywood. Polymarket partnered with the Golden Globes earlier this year, and Kalshi has inked deals with the likes of CNN, CNBC and Fox News.
