Sometimes events happen where all console manufacturers stand together. In this instance, Microsoft, Sony and Nintendo have announced a system that requires publishers to disclose drop rate odds for all games that include loot boxes, or they won’t be released on consoles.
This will also apply to games that add loot boxes in a post-launch update, meaning publishers and developers won’t be able to find a loophole so easily (similar to how some publishers add in the microtransactions after the review cycle is over).
The system will be implemented next year and a number of publishers have agreed to disclose the “relative rarity or probability of obtaining in-game virtual items from purchased loot boxes in a manner that is understandable and easily accessed” before the end of 2020. This list of publishers so far is Activision Blizzard, Bandai Namco, Bethesda, Bungie, Electronic Arts, Microsoft, Nintendo, Sony, Take-Two, Ubisoft, Warner Bros, and Wizards of the Coast.
It is unsure of whether these measures will apply outside of the US, but hopefully, they will be. The full statement by the Entertainment Software Association can be read here.