Spotify Confirms Streaming Fraud After Kalshi Trader Cries Foul
Top Kalshi trader Caleb Davies usually speaks to the press about how prediction markets help him rake in money. The Minneapolis-based IT worker estimates he’s made $1.2 million overall across different prediction platforms, with $414,000 in winnings from Kalshi’s culture markets alone. He especially enjoys wagering on music charts, because he carefully analyzes Spotify data to pick winners. “Every single morning, I’m going in, downloading the data, and updating my projections,” he tells WIRED.
This summer, though, he’s become increasingly agitated about what he claims is an obvious, bot-fueled effort to manipulate Spotify-related markets. He recently began compiling and publishing evidence for his theory, eventually becoming so convinced that he contacted Spotify, Kalshi, and Polymarket with his concerns.
This week, the situation hit a boiling pointwhen the song “Earrings” by Malcolm Todd surged to number one on a Spotify chart. In a series of X posts, Davies outlined his...
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