I understand your position in theory but feel the comparison to cannabis is a bit unfair. Most physicians will agree that cannabis is fairly harmless in adults.
Gambling, however has previously in the U.S. shown to be the leading cause of suicide attempts (20% in total) among all forms of addiction [1]. A body of evidence has also demonstrated it leads to divorce, bankruptcy, poor health and sometimes incarceration. Worth noting many of these studies centered around machine gambling and all forms of gambling are unique in terms of tendency for compulsion. Considering the landscape it is quite difficult for me to see a way of regulating out of this, not in the U.S. at least.
Gambling, however has previously in the U.S. shown to be the leading cause of suicide attempts (20% in total) among all forms of addiction [1]. A body of evidence has also demonstrated it leads to divorce, bankruptcy, poor health and sometimes incarceration. Worth noting many of these studies centered around machine gambling and all forms of gambling are unique in terms of tendency for compulsion. Considering the landscape it is quite difficult for me to see a way of regulating out of this, not in the U.S. at least.
[1] Zangeneh and Hason 2006, 191-93