ABSTRACT This article examines how the use of social media for news affects citizens’ knowledge about politics and current affairs. We employ a two-dimensional perspective on political knowledge and investigate how factual political knowledge, confidence in that knowledge, and misinformation, understood as the mismatch between factual political knowledge and confidence in knowledge, are related to social media news consumption. While earlier studies have suggested a negative relationship between social media news consumption and factual knowledge, there are indications that social media use may give people a general sense of being informed, even when they are not. Such general subjective knowledge might, however, differ from confidence in retrieved facts. Drawing on a two-wave panel study from Norway, we find evidence of a negative relationship between social media news consumption and both dimensions of knowledge. Notably, however, we do not find that social media news use leads to confidence in incorrect beliefs, suggesting that the digital media environment produces an uninformed, but not an overconfident, misinformed news audience.