In this paper, we conduct a content analysis to investigate the implications of the "Age-Appropriate Design Code" for the design of interactive digital media children are likely to use. The "Age-Appropriate Design Code" policy framework, implemented in the United Kingdom in 2021 with a modified version later signed into law in California in 2022, shifts the focus beyond just the protection of children’s data to a broader focus on how the interaction with digital technologies might affect or even harm children. Our content analysis of both the UK and California codes identifies a number of design considerations framed around four main categories namely design values, communication of information, interactions with technology, and data management. While recognizing the robustness of the Age-Appropriate Design Codes, we also identify certain uncertainties and challenges in implementing guidelines in the context of interactive digital media. Our findings contribute to the ongoing conversation about designing safe and age-appropriate online spaces for children.