"...selling lookalike political audiences to advertisers during the regulated period [...] users should be given a way to opt out of being included in such groups."
In my opinion, it should be exclusively "opt in". Social media firms could still milk the -too high- percentage of their users who love to be mislead and misinformed! 8^(
As other fellow commentards have already pointed out, a better education with special emphasis in critical thinking and a healthy degree of distrust of media sources and social media would get rid of most of these issues. Sadly, it'll probably never happen, as governments want their subjects docile. 8^(