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How Spotify bots rigged Kalshi payouts
The Spotify Chart Heist: How Prediction Markets and Bots Rigged the #1 Spot
Is the music chart a reflection of taste or a target for high-stakes gambling? In today’s episode, we investigate the explosive case of "Earrings" by Malcolm Todd, which surged 70% overnight to hit #1 on Spotify US. We break down the investigation that revealed a massive "botting" scheme tied to suspicious wagers on the prediction market Kalshi, where traders saw a 20-fold return on their bets.
We dive into the data flagged by trader Caleb Davies, who identified an "11.24 sigma event"—a 1 in 77 octillion chance of happening naturally. We analyze Spotify’s response, which included culling over 500,000 artificial streams and dropping the song to #4. Join us as we explore the "wild west" of culture markets, the $3 million in trades at the center of this controversy, and why Spotify is now demanding that prediction platforms like Kalshi and Polymarket stop using its logo.
This episode includes AI-generated content.
Is the music chart a reflection of taste or a target for high-stakes gambling? In today’s episode, we investigate the explosive case of "Earrings" by Malcolm Todd, which surged 70% overnight to hit #1 on Spotify US. We break down the investigation that revealed a massive "botting" scheme tied to suspicious wagers on the prediction market Kalshi, where traders saw a 20-fold return on their bets.
We dive into the data flagged by trader Caleb Davies, who identified an "11.24 sigma event"—a 1 in 77 octillion chance of happening naturally. We analyze Spotify’s response, which included culling over 500,000 artificial streams and dropping the song to #4. Join us as we explore the "wild west" of culture markets, the $3 million in trades at the center of this controversy, and why Spotify is now demanding that prediction platforms like Kalshi and Polymarket stop using its logo.
This episode includes AI-generated content.
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By @LocutorCoThe Spotify Chart Heist: How Prediction Markets and Bots Rigged the #1 Spot
Is the music chart a reflection of taste or a target for high-stakes gambling? In today’s episode, we investigate the explosive case of "Earrings" by Malcolm Todd, which surged 70% overnight to hit #1 on Spotify US. We break down the investigation that revealed a massive "botting" scheme tied to suspicious wagers on the prediction market Kalshi, where traders saw a 20-fold return on their bets.
We dive into the data flagged by trader Caleb Davies, who identified an "11.24 sigma event"—a 1 in 77 octillion chance of happening naturally. We analyze Spotify’s response, which included culling over 500,000 artificial streams and dropping the song to #4. Join us as we explore the "wild west" of culture markets, the $3 million in trades at the center of this controversy, and why Spotify is now demanding that prediction platforms like Kalshi and Polymarket stop using its logo.
This episode includes AI-generated content.
Is the music chart a reflection of taste or a target for high-stakes gambling? In today’s episode, we investigate the explosive case of "Earrings" by Malcolm Todd, which surged 70% overnight to hit #1 on Spotify US. We break down the investigation that revealed a massive "botting" scheme tied to suspicious wagers on the prediction market Kalshi, where traders saw a 20-fold return on their bets.
We dive into the data flagged by trader Caleb Davies, who identified an "11.24 sigma event"—a 1 in 77 octillion chance of happening naturally. We analyze Spotify’s response, which included culling over 500,000 artificial streams and dropping the song to #4. Join us as we explore the "wild west" of culture markets, the $3 million in trades at the center of this controversy, and why Spotify is now demanding that prediction platforms like Kalshi and Polymarket stop using its logo.
This episode includes AI-generated content.