Texas Attorney General Ken Paxton has launched an investigation into the World Federation of Advertisers (WFA) to determine whether its members conspired to boycott "certain social media platforms." The probe is likely targeted at Elon Musk's X, which filed an antitrust lawsuit against the WFA in August, alleging a "systematic illegal boycott" of the platform.

The WFA's members, including global brands such as IBM, The Coca-Cola Company, and CVS Health, have significantly reduced their ad spending on X since Musk's takeover. The exodus of advertisers was sparked by reports of X's failure to moderate its platform and remove illegal or hateful content. Paxton's investigation seeks to hold the WFA and its members accountable for any attempt to "rig the system" and harm organizations they disagree with.

The probe is focused on the Global Alliance for Responsible Media (GARM), a now-defunct organization within the WFA that created frameworks for companies to understand hate speech, brand safety, and misinformation. Paxton is seeking documents and information from GARM to determine whether it told brands to boycott certain social media platforms that violated its brand safety standards. The investigation's outcome could have significant implications for the tech industry and the role of advertisers in shaping online discourse.