Facebook (FB) - Get Report will lift its ban on political ads in the U.S. beginning on Thursday, but will now require certain advertisers to complete a new authorization process for their ads in order to get them on the platform.
The requirement applies to advertisers for social issues, elections or politics in the U.S., and these advertisers will also be required to place a "Paid for by" disclaimer on all new ads or edit existing ones to feature the phrase.
Facebook will allow previously authorized advertisers to begin submitting new ads as of March 4, with 48 hours for identity verification, 24 hours for disclaimer review and up to 72 hours for ad review.
Existing ads won't automatically be turned back on, however.
Facebook instituted the ban on new political advertisements the week before the 2020 U.S. Presidential election. The social media network said it took the step in order fend off last-minute disinformation campaigns like those that plagued Facebook during the 2016 election cycle.
“I’m worried that with our nation so divided and election results potentially taking days or even weeks to be finalized, there could be an increased risk of civil unrest across the country,” Facebook CEO Mark Zuckerberg said in September when announcing the ban.
Facebook recently ended its block of news pages in Australia in response to proposed legislation that would have forced the company to pay publishers for their content.
Facebook shares were down 1.19% to $255.93 Wednesday afternoon.