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The rapid rise of online platforms has characterized the digital transformation of the last decade. Their meteoric growth has caused concerns about market dominance and the widening information and power asymmetry between platforms and citizens, businesses and regulators alike. How should the EU react to these challenges? In this paper, Paul-Jasper Dittrich provides an overview of existing regulation of online platforms in the Single Market, examines current regulatory challenges for the EU and proposes policy recommendations for the future European debate on platform regulation.