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"Legalize and regulate" doesn't work when you're dealing with criminals that are enslaving and trafficking underage women. I highly recommend that you learn more about backpage.com and understand why there is great emotional resolve to fix the problem, even if the solution presented here is misguided.

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Perhaps the reason trafficking is incentivized is because this is a black market in the first place. We don't have the same levels of criminality with alcohol that we experience in the U.S. during prohibition precisely because a legitimized industry crowded out the ability to do most egregious criminal activity.

That would be a much stronger argument if trafficking wasn't such a significant issue in countries with legal prostitution.

This is another conflation between legal prostitution and the exploitation and trafficking of underaged girls to customers (technically paedophiles) who are actively searching for underage sex. I recommend reading about backpage and understanding the difference between criminally exploiting underage girls and the debate around legalized prostitution.

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