12:59 AM EDT, 09/15/2026 (MT Newswires) -- The European Union is said to be drafting a law that will prohibit unsupervised social media use for children under 15, Bloomberg News reported Monday. According to the draft Kids Act legislation seen by the news outlet, children aged three to 13 are restricted to child-friendly platforms with full parental supervision, while 13- to 14-year-olds can use mainstream platforms with controls including daily time limits. The report said the proposal seeks to mandate platforms to verify user ages, tackle addictive features, and pay a 0.03% supervisory fee, or risk fines up to 6% of global sales. The platforms targeted by the law include social networks, video-sharing apps, online games, artificial intelligence companions and conversational chatbots, as well as app stores. Educational platforms, online encyclopedias, public service apps and software repositories are exempt. The European Commission did not immediately respond to a request for comment from MT Newswires. (Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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