You put a lot of faith in regulations. Take lottery for instance. It's almost entirely controlled by states in the US and they prey on the most vulnerable. They even have state gambling apps now so there's virtually no restriction when and how much you play.

I don't know how much sports gambling is regulated but I doubt its meaningful. Gambling is dangerous because a certain personality cannot control themselves. What can regulation do? Put a little warning? Make sure the house advantage is no more than X? That's not what makes gambling dangerous.

Drugs are same story. Heavily regulated to their detriment. At least with illegal drugs you know it's dangerous and could be abused. But when a doctor prescribes you heavy pain killers for a simple injury, it's not obvious how dangerous they are.