You know, those little tags at the bottom of the game boxes you never look at because of the guns and boobs up at the top? Those are ESRB stickers, slapped on by the Entertainment Software Rating Board. They show the game has been rated in a voluntary process for guns and boobs, then assigned an appropriate label so kids know just how many guns and boobs they’re getting. It’s the industry regulating itself, and it works.
The FCC, who a while back totally freaked out over mixing sports and boobs during that Janet Jackson affair, is considering a single rating system for all forms of media. Games, movies, TV shows, anything the FCC can get its lustful tendrils into. This system, if it ever develops, may well be based around the one used by the ESRB and video games.