Bill C-34, the Safe Social Media Act introduced by Minister Marc Miller in June 2026, proposes an under-16 social media account restriction for prescribed platforms along with a new Digital Safety Commission and exemption pathway for services demonstrating adequate child safeguards. As of mid-October, the legislation remains in early parliamentary stages in the House of Commons, with opposition campaigns highlighting concerns over age verification, regulatory scope, and free expression. A slim Liberal majority, required Senate review, and estimates of at least a year for passage plus additional time for regulations and regulator setup make full enactment and enforcement before year-end unlikely. Traders price these procedural and timeline barriers as the dominant factors keeping the probability of passage in 2026 low.