Social media giant Meta Platforms (META) is facing scrutiny after the UK’s Gambling Commission accused the company of allowing illegal gambling operators to advertise on Facebook and Instagram. According to the regulator, unlicensed gambling sites are actively targeting UK users despite rules that require operators to hold local licenses. The allegations were outlined in a speech by executive director Tim Miller at the ICE gaming conference in Barcelona.
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Notably, Miller said that the commission routinely finds illegal operators by searching Meta’s own public ad library. He even went on to call it “a window into criminality.” As a result, Miller argued that if regulators can easily identify these ads, Meta should be able to do the same, but is choosing not to act. He also criticized Meta’s response, which suggested that regulators use their own AI tools to flag ads, while Meta would only remove them after being notified.
In addition, Miller noted that ads promoting sites with keywords “not on Gamstop” are a clear red flag, since all licensed UK operators must integrate the self-exclusion program. Moreover, similar issues have been found on Meta in other countries where gambling is restricted, including India, Malaysia, and Saudi Arabia, according to an earlier investigation by Rest of World.
What Is the Price Target for Meta?
Turning to Wall Street, analysts have a Strong Buy consensus rating on META stock based on 37 Buys, six Holds, and one Sell assigned in the past three months, as indicated by the graphic below. Furthermore, the average META price target of $823.63 per share implies 32.8% upside potential.
