In a blog post, Facebook executive Nick Clegg announced that Facebook will exempt politicians from rules that prohibit users from posting hate speech, encouraging criminal activity, inciting violence and, of course, posting fake news.
Facebook has had a newsworthiness exemption since 2016. This means that if someone makes a statement or shares a post which breaks our community standards we will still allow it on our platform if we believe the public interest in seeing it outweighs the risk of harm. Today, I announced that from now on we will treat speech from politicians as newsworthy content that should, as a general rule, be seen and heard. However, in keeping with the principle that we apply different standards to content for which we receive payment, this will not apply to ads
In the same posting, Clegg disclosed that Facebook hasn't been fact-checking politicans' posts as indicated in the past:
Facebook's approach to fake news and hate speech was always a gloss on its endless cowering before conservative politicians and pundits. This is another act of supplication to the right, Zuckerberg and co. whining but we gave you everything you wanted as congress and Trump set out to regulate them for good.
Clegg was himself a politician, oddly enough, most famous for an ultimately humiliating stint as Britain's deputy prime minister that nearly destroyed his party.