FTC Chair Classifies Meta as Monopoly

The U.S. Federal Trade Commission (FTC) has officially labeled Meta Platforms as a monopoly, according to news outlet PANews. This decision underlines the growing concerns regarding Meta’s substantial market share and influence within the technology industry. The FTC has been investigating Meta’s business practices for antitrust violations, seeking to limit its dominance in key areas. This announcement marks a crucial turning point in the ongoing regulatory challenges faced by Meta as it navigates potential legal ramifications from these investigations.