Not with this Executive Order, no. It's dependent on other Federal Agencies to act and they may or may not. And if they do then the lawsuits will kick in. Real impact to social media is a good year away at best.
You know, as I think more about this, there actually may be something here for the “Fairness Doctrine” the Democrats were pushing a while back. Adding a couple of new rules:
1. You are either publisher or platform, cannot be both.
2. If you are a publisher, you have to state what political side you are representing.
3. All opinion pages, radio, TV shows not considered “news” has to state what political side you are representing.
4. Media representatives representing “news” shows cannot participate in any political functions or offer opinions. If it isn’t hard news, it isn’t news.
5. Every media outlet must have the same number of shows which represents both sides of the political spectrum. This will be reviewed every year to analyze financial stakes for the networks.
Failure to do so will result in a first warning, a suspension and finally removal.