Spotify Deletes Stream Counts for Three Tracks After $1M Kalshi Bets
SPOT•On July 3, Spotify removed streaming counts for three popular tracks after prediction platform Kalshi opened markets on whether each would surpass 50 million plays in July, citing risks of coordinated streaming boosts. Kalshi’s markets drew over $1 million in wagers within hours of launch, prompting Spotify’s action to safeguard chart integrity.
1. Removal of Stream Data
On July 3, Spotify officially removed visible streaming counts for three well-known tracks after identifying that prediction markets on Kalshi could incentivize users to artificially inflate play numbers. Spotify stated the decision was necessary to prevent manipulation of public data and protect its algorithmic charts.
2. Details of Kalshi Prediction Markets
Kalshi launched three separate markets allowing bets on whether each track would exceed 50 million streams by the end of July, with total wagers surpassing $1 million shortly after launch. Users could place bets ranging from $50 to $10,000, creating potential incentives for coordinated streaming campaigns.
3. Implications for Spotify and Investors
By removing the streaming data, Spotify aims to maintain credibility of its charts and algorithms, but the incident raises questions about vulnerability to market-driven manipulation. Investors will watch for any further measures Spotify implements to safeguard against similar risks and potential impacts on user engagement metrics.
