Spotify has taken down approximately 500,000 streams from Malcolm Todd’s popular song “Earrings” following concerns that the track’s chart performance was artificially manipulated by gamblers on prediction market platform Kalshi.
The Hollywood Reporter writes that Spotify’s decision came just days after “Earrings” reached the top position on Spotify’s daily U.S. chart for the first time. The song’s sudden surge in popularity has been connected to alleged manipulation schemes involving bets placed on prediction market Kalshi.
According to a source at Spotify, the company has requested that both Kalshi and Polymarket remove Spotify’s logos from their websites. The source emphasized that Spotify has never maintained a partnership with either prediction market platform.
In an official statement, Spotify addressed the broader issue of streaming manipulation. “All streaming services face ever-changing stream manipulation,” the company stated. “Spotify has best in class detection and mitigation practices for manipulated streams, and we don’t pay out associated royalties.”
There is currently no indication that Malcolm Todd or his management team was involved in or aware of the alleged streaming manipulation. Todd has emerged as one of the music industry’s fastest-growing artists, and “Earrings” had been consistently performing within the top five positions on Spotify’s daily U.S. chart for several weeks before the incident. This strong organic performance may have made the song an attractive target for manipulators seeking to profit from prediction market bets.
The song experienced a dramatic rise over a short period. Last Sunday, “Earrings” was ranked at number four on Spotify’s daily chart, but by Monday it had climbed to the number one position, representing an approximately 70 percent jump in streams. Following Spotify’s intervention, the song has remained at number three on the platform’s chart for the past several days.
A Spotify source claimed that the company would be “adding additional checks to the charts before they’re published.” A representative for Kalshi stated that “we’re in touch with Spotify and are actively investigating this matter.”
The incident highlights growing concerns about potential industry-wide problems as prediction markets increasingly treat entertainment industry charts as legitimate betting opportunities. As of now, Kalshi offers dozens of different betting propositions based on results from both Spotify and Billboard charts.
Streaming services have already dealt with various forms of attempted chart manipulation for years, ranging from organized fraud schemes to fan communities coordinating streams to boost their favorite artists’ chart positions. The introduction of prediction markets where average listeners can potentially profit from outcomes they have the ability to influence creates additional incentives for manipulation.
This is not the first controversy involving prediction markets and entertainment content. Earlier this year, an editor working with popular YouTuber MrBeast faced accusations of insider trading related to the creator’s videos on Kalshi.
Despite the mounting issues, prediction market platforms continue seeking deeper integration with the entertainment industry. Polymarket entered into a partnership with the Golden Globes earlier this year, while Kalshi has established deals with major news organizations including CNN, CNBC, and Fox News.
Read more at the Hollywood Reporter here.
Lucas Nolan is a reporter for Breitbart News covering issues of AI, free speech, and online censorship.