Kalshi Settles $3.32M Spotify Market After Alleged Stream Manipulation on June 29

According to Odaily, Kalshi settled a $3.32 million Spotify prediction market on June 29 after allegations of artificial stream manipulation. The market tracked which artists topped Spotify's U.S. daily chart. Trader Caleb Davies reported that Malcolm Todd's song "Earrings" surged 70% in a single day and claimed the top spot, with open interest rising from $2,000 to over $70,000 before the data dispute emerged.

Spotify subsequently removed 523,000 plays attributed to "Earrings," which would have ranked the song fourth, not first, on June 29. Spotify also requested Kalshi remove its brand identity. Kalshi has not announced investigation results, rescinded the settlement, or announced compensation.