[JumpCrisscross]

> Those examples have cleary less benefit for society then the dumbest investment strategy

They also carry less risk. Few people who "lose their shirt" say "oh well, I didn't do my diligence." Instead, they blame the system. Their anger becomes political capital. Moreover, inept investment combined with leverage can decimate an economy in a way frivolous personal spending does not.

If you want to learn about why these regulations appeared, in more or less similar form, many times independently across the world, start by reading on the history of free banking, the Panic of 1907, the post World War I securities market and the debates surrounding the Securities and Exchange Acts of '33 and '34.

Disclaimer: I am not a lawyer. This is not legal nor securities advice.

[summer_steven]

>> Why dont we regulate everything like that. Why do we allow people to buy unlimited lottery tickets or gamble everything away in the casino?

> They also carry less risk. Few people who "lose their shirt" say "oh well, I didn't do my diligence."

No they don't. Plenty of people lose their entire life savings in casinos, and plenty of poor people spend money on lottery tickets when they should be spending money on food.

You have not sufficiently explained how gambling is less risky than investing.