Games

Basically, the same systems that allow Skin gambling also allow for trading and 3rd party marketplaces. You can't just disable one without disabling the other. They could ban it on paper but enforcing those bans technically will likely just lead to users/victums lossing more as casinos would be unable to payout owed earnings.

That leaves legal enforcement, but Valve isn't a government body - they don't have the authority to investigate these casinos, and have limitted ability to enforce the law. They're effectively manufacturing poker chips and releasing them into an open market where they don't have authority (nor should they). Instead, illegal casinos should be investigated and prosecuted by the government - its supposed to be their responsiblity to handle exactly this sort of thing. They have the ability to seize casino property to investigate them or collect information, and the ability to fine them and enforce fines, unlike Valve which can do neither. As even noted in the video, the have sent cease and desist letters in the past, but casinos can changed names, changed owners, ect. and nothing changed.

Edit: For clairity, free trading is what allows these sites to work. Valve will disable account's ability to trade in some cases such as where their services are directly abused on-platform, but they don't have access to trade negotiations and things obviously get messy when it comes to trying to mediate bad or unfair deals (such as the case with these casinos.) That means Valve has four options to tackle this:

1. Do nothing.

2. Send cease and desist notices to the casinos and/or persue legal action where possible. This leads to individual casinos closing and then a new one is immediately re-opened to take its place as there isn't any cost to then.

3. Disable the accounts of these casinos. The problem is that this effectively freezes their cashflow both in and out. Anyone waiting on a cash-out effectively immediatly loses everything, and given the long transaction times and sizes of these casinos, this will likely hurt a lot of victims. At the same time, while they lose some of their assets, casinos can still walk away with a lot of their current profits. This just turns it into a game of whack a mole, where casios pop up, make a small fortune, then get banned and effectivly rugpull their userbase.

4. Disable trading and possibly marketplace, which sucks for regular users and means all sales much go through Valve storefront with no room for competition or price negotiation. No more giving friends spare skins, and no more bypassing Valve's 5% royalty fee on sales. This also has the same issue as #3.