The SMS/MMS space is surprisingly "new" in the telecom sense. Many carriers and providers don't have all of the tools built out that you'd expect to handle spam at the scale they're seeing. From what I've experienced, AT&T has the best spam filtering among the carriers, but again they're all pretty hit-and-miss for now.
When it comes to toll-free messaging all carriers seem to do pretty well (as it's easy to detect the same message being sent out 100k+ times from a singular number), but it becomes much more difficult as more companies move over to unregistered or "local" traffic. Businesses are able to send from local numbers using a technique called "Snowshoeing", or spreading the messages out across multiple numbers and dodge large message volumes from any singular number.
While many of these messages are annoying (such as political messaging/marketing), it's not illegal. However, if you receive legitimate spam messages, all carriers allow you to forward the message to the number 7726.
Be careful if the spammer is spoofing your number as the sender however, because carriers are not smart enough to determine the legitimate sender yet and it will result in your actual number being marked as spam. From what I've heard, being able to detect spoofed sms/mms messages will be coming some time in 2023 though.