12:00 PM EDT, 07/31/2024 (MT Newswires) -- (Updates with Meta Platforms' ( META ) statement in the third paragraph.)

Meta Platforms ( META ) is continuing to run hundreds of ads on Facebook and Instagram that steer users to online marketplaces to buy illegal drugs, collecting revenue from a practice that violates its policy, The Wall Street Journal reported Wednesday.

The tech giant was running ads marketing cocaine and prescription opioids as recently as Friday, months after the WSJ first reported that it was facing a federal investigation over the practice.

"Drug dealers are criminals who work across platforms and communities, which is why we work with law enforcement to help combat this activity," Meta said in a statement emailed to MT Newswires. "Our systems are designed to proactively detect and enforce against violating content, and we reject hundreds of thousands of ads for violating our drug policies."

(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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