There is already one form of self-imposed regulation in the video game industry: The rating system, through the ESRB.
If a game is rated M for Mature, game stores aren't supposed to sell that game to anyone under 17. If a game store does sell a game rated Mature to someone under 17, there is no federal penalty, no government body to punish them. But, for the most part, game stores adhere to the policy — the game industry rating system is widely regarded as the gold standard for entertainment rating systems in terms of efficacy.
This rating system could also be used to warn potential buyers about loot box mechanics in a game.
"We can continue to expand our ESRB definitions," Spencer said. "There are monetization descriptions that happen in the ESRB."
Zelnick had a similar outlook, albeit one that took consumer concerns up front over the potential legislative imposition from Senator Hawley.
"If our consumers indicated that they really need to know what kind of mechanics exist before they buy a game, then it would be appropriate for the ESRB to establish those kind of criteria," he said. "But I don't think that that's the case."
Moreover, Zelnick doesn't believe that any such legislation will pass.
"The US government is not going to regulate what monetization mechanics exist inside a video game," he said. "That's just not gonna happen. That would just be horrible law in a country that has the First Amendment. So I don't believe that will happen."