'Can you post a meme?': Facebook changes ad rules after Bloomberg exploits loophole

Policy change involves what Facebook calls 'branded content', sponsored items posted by ordinary users who are typically paid by companies

Facebook decided on Friday to allow a type of paid political message that had sidestepped many of the social network's rules governing political ads, in a reversal that highlights difficulties tech companies and regulators have in keeping up with the changing nature of paid political messages.

Facebook's policy change comes days after the Democratic presidential candidate Mike Bloomberg exploited a loophole to run humorous messages promoting his campaign on the accounts of popular Instagram personalities followed by millions of younger people.