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Social media platforms, including Twitter (now X), have policies in place tomaintain a safe and trustworthy advertising environment. However, the extent towhich these policies are adhered to and enforced remains a subject of interestand concern. We present the first large-scale audit of advertising on Twitterfocusing on compliance with the platform's advertising policies, particularlythose related to political and adult content. We investigate the compliance ofadvertisements on Twitter with the platform's stated policies and the impact ofrecent acquisition on the advertising activity of the platform. By analyzing34K advertisements from ~6M tweets, collected over six months, we find evidenceof widespread noncompliance with Twitter's political and adult contentadvertising policies suggesting a lack of effective ad content moderation. Wealso find that Elon Musk's acquisition of Twitter had a noticeable impact onthe advertising landscape, with most existing advertisers either completelystopping their advertising activity or reducing it. Major brands decreasedtheir advertising on Twitter, suggesting a negative immediate effect on theplatform's advertising revenue. Our findings underscore the importance ofexternal audits to monitor compliance and improve transparency in onlineadvertising.

Before Blue Birds Became X-tinct: Understanding the Effect of Regime Change on Twitter's Advertising and Compliance of Advertising Policies