80 Pages Posted: 17 Mar 2025 Last revised: 18 Apr 2025 Date Written: February 01, 2025 Abstract We study the competitive impact of content moderation by a dominant online platform. We exploit an exogenous shock that led the largest adult content platform to remove all non-verified content, eliminating 80\% of its video library. Using a difference-in-differences approach and leveraging on daily website-country level traffic data, we find that this policy resulted in a 41% drop in traffic within o...