Meta has agreed to pay up to $18 billion and impose new restrictions on how teenagers use Facebook and Instagram, bringing one of the most closely watched U.S. legal battles over children and social media toward a settlement. The agreement, reached with nearly all U.S. states, resolves claims that Meta designed its platforms in ways that could addict young users, misled the public about their safety, and improperly collected children’s personal information. Meta denies wrongdoing. The financial scale is striking, but the changes to Facebook and Instagram may have the more visible effect. Under the settlement, Meta has agreed to limit teenage users to two hours a day on the platforms and block access between midnight and 6 a.m. …