> Unfortunately, the law treats negotiations between actual peers and large companies "negotiating" with individual customers the same way--it'd be hard to delineate distinct classes of actors that can and cannot enter into arbitration agreements (or contracts in general).

And yet we are able to do so in the EU, with just one sentence: https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CEL...

> (b) ‘consumer’ means any natural person who, in contracts covered by this Directive, is acting for purposes which are outside his trade, business or profession;

and that directive prohibits binding arbitration in the annex:

> (q) excluding or hindering the consumer’s right to take legal action or exercise any other legal remedy, particularly by requiring the consumer to take disputes exclusively to arbitration not covered by legal provisions, unduly restricting the evidence available to him or imposing on him a burden of proof which, according to the applicable law, should lie with another party to the contract.