I see you are claiming they have no laws but you want them to follow some other laws you have in mind for them. I believe the whole realm of the US Criminal code applies to them as well as OSHA, EPA, IRS, EEOC, and a few hundred state and local laws. All laws regarding contracts and apply to them. Of they have public stock they have SEC laws. They must comply with banking laws. If they sell goods or device then the FTC laws apply.
They have to follow they same contract law as everyone else. If you have a contract with them and there are is a breech you have all the same rights in law that you would have with any other contract. There is no special contract law for social media. Where do you get that idea they are exempt from contract law.
What are they doing that needs a law?
You can believe all you want. It's not true.
look at Bill Gates. He had a contract with IBM to make DOS.
He took his software and sold it himself. Today that is against the law but at the time got away with it because the laws where not there to stop him from doing it. The laws at the time was that it was his software.
Remember IBM attempted to put him into prison for braking his contract.
very similar issue with these social medias and lack of laws today.