This study analyzes the fragmented landscape of global loot box regulations, which have emerged from a discourse predominantly focused on negative aspects such as gambling. The analysis reveals a variety of coexisting regulatory models—including prohibition under gambling law, mandatory disclosure, and self-regulation—that lack a unified standard and raise issues of practical effectiveness and reverse discrimination. Consequently, this paper argues for an urgent shift beyond a problem-solving approach toward balanced research that examines the positive functions of loot boxes for players and the industry ecosystem to inform rational policymaking.