And people keep finding new ways to gamble, some of which are difficult to make illegal. It's fairly clear the stock market is an elaborate gambling system to some people.
I wish they'd ban adverting of state lotteries too. Those ads are the worst, most insulting, most idiotic. A celebration of mindless materialism and short-term thinking. These ads celebrate the fact that most lottery winners blow it all on stupid shit then end up back at square one a few years later. It's flagrant exploitation of the dimwitted; the least they could do is not flaunt it on huge billboards all across town.
Illegal businesses tend to branch out into other crimes, and to corrupt law enforcement. Both of those can end up affecting those nowhere near a place of gambling.
Unfortunately the rampant ads have the same effect; kids growing up now will see this all as normal and probably be worse off for it. This is a way in which culture is downstream from law.
If you ask me, gambling isn't the problem here; advertising is. Sure, people will always find a way to engage in vices, but something about exploiting our monkey brains to make those vices seem like the be all and end all always seems to have some pretty bad effects on society. Tie all the ills of the 20th century psychology-infused advertising with modern targeted advertising and you have a real disaster on your hands -- just be glad Joe Camel never got to stroll around the social networks of the 21st century.