Profile ads are banned, yes, because they involve teh candidates. Policy ads are banned because they again involve politics.
We can start anywhere! Let's say 'nothing from any entity that receives money from a political party'. Or 'anything mentioning election candidates'. Or 'anything with certain keywords in it'.
What you're not stopping to ask yourself is 'who are the kinds of people that need to advertise about politics'? Yep, exactly the kinds of dickheads you don't want polluting our information streams with their bullshit. Out with all of them!