Shouldn't there be laws against this happening?
Every person who shall monopolize, or attempt to monopolize, or combine or conspire with any other person or persons, to monopolize any part of the trade or commerce among the several States, or with foreign nations, shall be deemed guilty of a felony, and, on conviction thereof, shall be punished by fine not exceeding $100,000,000 if a corporation, or, if any other person, $1,000,000, or by imprisonment not exceeding 10 years, or by both said punishments, in the discretion of the court." Sherman Act 1890 §2
The scary open secret is that most regulatory laws are written by, or at least in consultation with, the industries that they ostensibly regulate. There's a reason that most ex-legislators in the US move from Congress to a lobbying firm. It's a quid pro quo.