If you truly find it morally reprehensible, please let me encourage you to pay attention to your inner compass. There are many, many other places for a software engineer to work.
Regulation is extremely effective if done correctly and full-heartedly. The problem isn't regulation - It's that the government doesn't actually want to fix certain issues and so it implements half-ass "regulation" just to satisfy the public on a superficial level - This is certainly the case with the gambling industry which the government actually depends on for tax dollars and funding political campaigns.
That's the point I'm trying to make; the government should start caring about its people and implement serious regulation to protect them.