Spotify (SPOT, Financials) removed more than 500,000 streams from Malcolm Todd's Earrings after suspicious betting activity raised questions about the song's jump on the platform's U.S. chart.
The indie-pop track moved from No. 4 to No. 1 after U.S. streams rose nearly 70% between Sunday and. Some Kalshi users later flagged unusual betting tied to who would top Spotify's U.S. chart in June.
Spotify removed streams that appeared to come from bots playing the song repeatedly. The company said streaming services continue to face manipulation attempts and that it does not pay royalties on streams it identifies as fake.
Kalshi said it is in contact with Spotify and is investigating the matter. The platform had already paid traders who bet on the chart outcome. There is no indication Todd or his team were involved.
Spotify also asked Kalshi and Polymarket to remove its logo and make clear they have no partnership with the company.
Investors will watch whether Spotify tightens its chart controls as prediction markets create new incentives around streaming data.