The NBA bans the use of steroids. One could argue that this regulation benefits only those unable or unwilling to risk their health for the sake of competition,

The NBA bans the use of steroids. One could argue that this regulation benefits only those unable or unwilling to risk their health for the sake of competition, or one could argue that focusing on traditional athleticism, whether through practice or genetics, makes for a more fun and entertaining game while facilitating the overall welfare of participants. Unlike basketball, the stock market happens to be a game with extraordinarily significant consequences, not just for players but for society at large, and it just so happens that society has a lot more to gain from a stock market where traders spend less time competing on speed of execution and more time competing on quality of information. Similarly, there exist many valuable alternative use cases for the real estate, electromagnetic spectrum, and other fixed-supply resources consumed by HFT that would likely contribute more to overall human welfare. No matter how you spin it, better rules make for a better game.