Strictly speaking, this would fall under the umbrella of controlling what everyone does with their bodies.
A close parallel to disallowing surrogacy is the fact that it's illegal to sell organs. Why should we prevent someone from selling a valuable, redundant organ like a kidney or a lung? The obvious reason is the same as the one used by European countries with regards to surrogacy: because it inevitably leads to the exploitation of the poor.
If anything, I'm a bit surprised the US disallows organ sales (see 42 USC 274e: https://www.law.cornell.edu/uscode/text/42/274e) while still allowing surrogacy contracts in most states.