The proposed bill establishes regulations for social media platforms in Wyoming, specifically requiring parental consent for minors under the age of eighteen to create accounts. It introduces definitions for key terms such as "account holder," "minor," "social media company," and "social media platform." The bill mandates that social media companies must obtain express consent from a minor's parent or guardian before allowing the minor to open an account. Additionally, it requires these companies to deny access to their platforms until such consent is verified.

Furthermore, the bill assigns the attorney general the responsibility of creating rules for the consent process, including how parents can provide consent and how companies can verify its authenticity. It also allows the attorney general to pursue remedies under the Wyoming Consumer Protection Act against companies that do not comply with these regulations. The act is set to take effect immediately upon completion of legislative processes, with specific provisions becoming effective on July 1, 2024.