The European Union’s new regulatory agenda targeting online platforms such as social media has been presented as a progressive watershed moment after a long period of regulatory restraint. The attempt to construct an internal market lends legal competence to the two centerpieces of this agenda—the Digital Services Act (DSA) and the Digital Markets Act (DMA). This Article analyzes the Union’s attempts to govern online platforms as a part of internal market construction. After examining the underlying aims of the internal market, the Article proceeds to analyze how those aims have been operationalized in existing EU electronic commerce law and more recently in the DSA and DMA proposals. The Article argues that the Union regulatory agenda is not particularly transformative. While the DSA and DMA introduce many novel regulatory mechanisms with an equalizing potential, they also remain faithfully committed to the aims and pre-existing mechanisms of internal market construction that have enabled the rise of platform corporations in the first place. Thus, the proposals risk reproducing and legitimizing various inequalities in the European digital economy. The article seeks to connect alternative visions of platforms with the re-imagination of internal market construction.