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> They’ve come down pretty heavily on the gambling side, no?

Not really. Back when this was a big story (around 2016-2017) they sent out some cease and desists to a number of the big CS:GO gambling websites but many did not comply and there was no follow-up. To this day many of those original sites are still around and have since grown. Essentially Valve (and the skin market as a whole) benefit so greatly from this grey-market that there is no incentive for them to stop it. This is covered in part 2 of Coffeezilla's latest series investigating CS:GO gambling [1]

[1] https://youtu.be/13eiDhuvM6Y?t=493






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