Social media giant Meta has agreed to pay nearly $17 billion to settle a lawsuit alleging that its platforms, Instagram and Facebook, were intentionally designed to addict young users and harm them. The settlement, announced Wednesday, resolves claims brought by 29 states that accused Meta of misleading users about child safety on its sites and improperly collecting minors' personal data.

As part of the agreement, Meta will implement daily usage limits for child users of Instagram and Facebook. The company will also restrict access to these platforms at night. California Attorney General Rob Bonta, who co-led the multi-state effort, stated that these changes would be enacted "within months."

"Today, we have secured a settlement with Meta that will make social media less dangerous for our kids and make a world of a difference for children and their families," Bonta said in a statement. The trial was co-led by attorneys general from Colorado, New Jersey, and Kentucky.

Meta, which owns Facebook, Instagram, Threads, and WhatsApp, faces accusations of designing its services to maximize engagement, which critics argue can be detrimental to young users' well-being. The settlement aims to address these concerns by forcing significant changes to how child users interact with Meta's platforms.

The agreement is expected to bring about "massive transformations" on Meta's platforms in the coming months. The lawsuit's resolution marks a significant moment in the ongoing debate surrounding the impact of social media on young people and the responsibility of technology companies to protect their youngest users.