This study compiles an original data set of Facebook posts and comments to analyze potential overblocking and chilling effects of a German law that aims to reduce hate speech on social media platforms (Netzwerkdurchsetzungsgesetz, NetzDG). The analysis is based on a sample of 10 popular public Facebook pages. While critics of the law have feared an undue increase in the deletion of user-generated content (“overblocking”), we find no robust evidence in support of this claim in the data during our investigation period. Although there has been a slight increase in the proportion of deleted comments per post, the effect size is small. Furthermore, neither do people abstain from commenting on Facebook nor does the tonality of comments become more positive after the law was in full effect (“chilling effects”). In addition, this study demonstrates the difficulties of the empirical evaluation of platform regulation. This raises the question how politicians can hold social media platforms accountable to protect users and their rights in the digital sphere.