diff --git a/gateway/platforms/helpers.py b/gateway/platforms/helpers.py
index 1c4f451585a..a3704bf50cf 100644
--- a/gateway/platforms/helpers.py
+++ b/gateway/platforms/helpers.py
@@ -168,8 +168,8 @@ class TextBatchAggregator:
 # Pre-compiled regexes for performance
 _RE_BOLD = re.compile(r"\*\*(.+?)\*\*", re.DOTALL)
 _RE_ITALIC_STAR = re.compile(r"\*(.+?)\*", re.DOTALL)
-_RE_BOLD_UNDER = re.compile(r"__(.+?)__", re.DOTALL)
-_RE_ITALIC_UNDER = re.compile(r"_(.+?)_", re.DOTALL)
+_RE_BOLD_UNDER = re.compile(r"\b__(?![\s_])(.+?)(?<![\s_])__\b", re.DOTALL)
+_RE_ITALIC_UNDER = re.compile(r"\b_(?![\s_])(.+?)(?<![\s_])_\b", re.DOTALL)
 _RE_CODE_BLOCK = re.compile(r"```[a-zA-Z0-9_+-]*\n?")
 _RE_INLINE_CODE = re.compile(r"`(.+?)`")
 _RE_HEADING = re.compile(r"^#{1,6}\s+", re.MULTILINE)
diff --git a/tests/gateway/test_bluebubbles.py b/tests/gateway/test_bluebubbles.py
index e3ff26cc695..6f93c1d4dba 100644
--- a/tests/gateway/test_bluebubbles.py
+++ b/tests/gateway/test_bluebubbles.py
@@ -101,6 +101,11 @@ class TestBlueBubblesHelpers:
         adapter = _make_adapter(monkeypatch)
         assert adapter.format_message("**Hello** `world`") == "Hello world"
 
+    def test_format_message_preserves_underscores_in_identifiers(self, monkeypatch):
+        adapter = _make_adapter(monkeypatch)
+        text = "Use /api_v2 with FEATURE_FLAG_NAME and config_file.json"
+        assert adapter.format_message(text) == text
+
     def test_strip_markdown_headers(self, monkeypatch):
         adapter = _make_adapter(monkeypatch)
         assert adapter.format_message("## Heading\ntext") == "Heading\ntext"