I think part of it is because many affluent parents have children with major mental health issues: anxiety, depression, bipolar, thoughts of self-harm, etc. and many of these parents blame social media. The affluent have way more sway over policymaking, and since social media seems easier to control that other vices, they're exerting their control.
The suicide rate in Palo Alto, for instance, was so high that the CDC investigated it (around 2016). The situation hasn't improved much since then. https://elestoque.org/2025/12/07/opinion/community-members-t...
Another example: in the California Assembly hearings for AB 1043 (their age verification bill), one mom offered testimony in support by saying it was social media that enticed her daughter into developing anorexia.