Social media platforms are gaining more influence on public opinion, privacy and democracy, and regulation of social media platforms has become increasingly urgent. This research examines the existing frameworks of social media platform regulation and aims to find a model of regulation that can better protect citizens while strengthening technological development. The study considers the need for regulation to overcome problematic content, punish indelicate user conduct, and safeguard freedom of expression while proposing a regulatory framework that spans regulatory mechanisms and identifies gaps in current regulatory methods.