I wonder what we could do to legally balance this. Out right banning is bit questionable. But weekly or monthly spending reports? Some total number shown regularly to players?
I think that the option in appstores to completely hide all games with in-app purchases would be enough. Like, if you don't know they exist, you can't get hooked. Probably banning advertising such games anywhere but on the AppStores, too.
I'm all for advertisement ban. Or at least limiting periods allowed. It gets either really funny, sad or scary however you take it when you see some games like Raid Shadow Legends advertised for years extremely prominently. At least when comparing to most other mobile titles... And then the places it is advertised. Like cooking channels...
You could just cap the maximum spend of any one player in any game (or group of players). Even if it was some stupid high number like $1,000, it would limit the blast radius. Also, banning loot boxes of course. Totally can be done.