PC games are infested with the same issue. Especially anything that’s free to play. But even plenty of full price titles have the issue. The FIFA series is one if not the worst offender of this.

Belgium tried to stop it and declared loot boxes as gambling. Effectively banning them from any game that doesn’t have a gambling license. This happen back in 2018/19. Unfortunately it isn’t really enforced and did nothing. But it’s a step in the right direction.