It is frequently argued that false and misleading claims, spread primarily on social media, are a serious problem in need of urgent response. Current strategies to address the problem – relying on fact-checks, source labeling, limits on the visibility of certain claims, and, ultimately, content removals – face two serious shortcomings: they are ineffective and biased. Consequently, it is reasonable to want to seek alternatives. This paper provides one: to address the problems with misinformation, social media platforms should abandon third-party fact-checks and rely instead on user-driven prediction markets. This solution is likely less biased and more effective than currently implemented alternatives and, therefore, constitutes a superior way of tackling misinformation.

Social media companies commonly design their platforms in a way that renders them addictive. Some governments have declared internet addiction a major public health concern, and the World Health Organization has characterized excessive internet use as a growing problem. Our article shows why scholars, policy makers, and the managers of social media companies should treat social media addiction as a serious moral problem. While the benefits of social media are not negligible, we argue that social media addiction raises unique ethical concerns not raised by other, more familiar addictive products, such as alcohol and cigarettes. In particular, we argue that addicting users to social media is impermissible because it unjustifiably harms users in a way that is both demeaning and objectionably exploitative. Importantly, the attention-economy business model of social media companies strongly incentivizes them to perpetrate this wrongdoing.