After a judge warned that the Federal Trade Commission's probe into Media Matters for America (MMFA) should alarm "all Americans" - viewing it as a likely government retaliation intended to silence critical reporting from a political foe - the FTC this week appealed a preliminary injunction blocking the investigation.

The Republican-led FTC's determined to keep pressure on the nonprofit - which is dedicated to monitoring conservative misinformation - ever since Elon Musk villainized MMFA in 2023 for reporting that ads were appearing next to pro-Nazi posts on X. Musk claims that reporting caused so many brands to halt advertising that X's revenue dropped by $1.5 billion, but advertisers have suggested there technically was no boycott. They've said that many factors influenced each of their independent decisions to leave X - including their concerns about Musk's own antisemitic post, which drew rebuke from the White House in 2023.

For MMFA, advertisers, agencies, and critics, a big question remains: Can the FTC actually penalize advertisers for invoking their own rights to free expression and association by refusing to deal with a private company just because they happened to agree on a collective set of brand standards to avoid monetizing hate speech or offensive content online?

You're not alone if you're confused by the suggestion, since advertisers have basically always cautiously avoided associations that could harm their brands. After Elon Musk sued MMFA - then quickly expanded the fight by also suing advertisers and agencies - a running social media joke mocked X as suing to force people to buy its products and the billionaire for seeming to believe it should be illegal to deprive him of money.

On a more serious note, former FTC commissioner Alvaro Bedoya, who joined fellow Democrats who sued Trump for ejecting them from office, flagged the probe as appearing "bizarrely" politically motivated to protect Musk, an ally who donated $288 million to Trump's campaign.

The FTC did not respond to Ars' request to comment on its investigation. But seemingly backing Musk's complaints without much evidence, the FTC continues to amplify his conspiracy theory that sharing brand safety standards harms competition in the ad industry. So far, the FTC has alleged that sharing such standards allows advertisers, ad buyers, and nonprofit advocacy groups to coordinate attacks on revenue streams in supposed bids to control ad markets and censor conservative platforms.

Legal experts told Ars that these claims seem borderline absurd. Antitrust claims usually arise out of concerns that collaborators are profiting by reducing competition, but it's unclear how advertisers financially gain from withholding ads. Somewhat glaringly in the case of X, it seems likely that at least some advertisers actually increased costs by switching from buying cheaper ads on the increasingly toxic X to costlier platforms deemed safer or more in line with brands' values.