I live in UK an I have seen ads every few posts. Have you been using it for long? Do you use some sort of VPN or network wide adblocker? Or maybe you didjtn realize they were ads as they are disguised as posts.
For like... 2 or 3 years. And no, no ad blocker, no VPN. I do have the Xiaomi ad services disabled, but I don't think that is the reason, cuz I used to run the same app on an Asus Zenfone 3 Max before this phone, and it never showed any ads there as well. And no, I don't think I missinterpeted ads as a post, it's not my first social network, lol 😂. I can make a video scrolling if you'd like, you'll see there are no ads as well.
I think it's the location. I have no other explanation. IDK if they use AdSense, but if they don't and their ads are not personalized (or maybe they are, but they just have no ads for local stuff around where I live, Reddit is not something that's popular here, like maybe 100, 200 people use it actively), then that is most likely the culprit why no ads are shown.
I wonder if I using a US based VPN will show ads in the app.