Yeah, because having the goverment regulate something makes it stop. That is like saying no one is using drugs now because of the war on drugs.
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.