Social Media Free-For-All? Ohio Law For Kids Requiring Parental Consent Faces Judicial Hurdle
Portfolio Pulse from Ananya Gairola
A federal judge has temporarily blocked an Ohio law requiring parental consent for minors to use social media apps. The law, set to be enforced on Jan. 15, faced opposition from NetChoice, representing companies like TikTok, Snap Inc. (SNAP), and Meta Platforms Inc. (META). The judge cited free speech concerns and the law's broad scope. NetChoice has previously won against similar laws in other states. The law was part of an effort to protect children's mental health.
January 10, 2024 | 8:59 am
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Meta Platforms Inc. is part of NetChoice, which successfully opposed the Ohio law requiring parental consent for minors on social media, now temporarily blocked.
The halt of the Ohio law may alleviate potential compliance burdens for Meta Platforms Inc., which could be seen as a positive development by the market.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 80
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Snap Inc. is part of NetChoice, which opposed the Ohio law requiring parental consent for minors on social media, now temporarily blocked by a federal judge.
The temporary block of the Ohio law may prevent potential operational and compliance costs for Snap Inc. in the short term, possibly viewed positively by investors.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 80