12:28 PM EST, 11/24/2025 (MT Newswires) -- (Updates with Meta Platforms' ( META ) response in fourth paragraph.)

Meta Platforms ( META ) is facing calls from US senators Josh Hawley and Richard Blumenthal for federal regulators to investigate the company's advertising practices on Facebook and Instagram, Reuters reported Monday.

In a letter, the senators called on the Federal Trade Commission and the Securities and Exchange Commission to launch the probes following a Reuters report earlier this month that internal Meta documents from late 2024 suggested the company expected to generate about 10% of its annual revenue, roughly $16 billion, from ads linked to scams and banned goods, the report said.

Meta Platforms ( META ) disputed the allegations saying user reports of scams dropped 58% in the last 18 months, Reuters reported.

A Meta Platforms ( META ) spokesperson told MT Newswires in an e-mail statement, "This letter makes claims that are exaggerated and wrong. We aggressively fight fraud and scams because people on our platforms don't want this content, legitimate advertisers don't want it and we don't want it either."

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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