The station 2Day FM is already serving two five-year license probations after serious breaches of the Australian regulator's code.

It has also urged platforms to put a cap on users’ monthly spending on virtual gifts, though regulators haven’t specified or suggested a limit.

"With the regulator armed and equipped, the enemy will flee without taking order as to its line of march," thought the old man.

Wall Street’s top regulators believe financial markets held up under the strain of the trading frenzy that drove shares of GameStop and other neglected companies to nosebleed-high prices last week.

How all these various players exit the trade—and whether they do so at a profit—will shape whatever response regulators may offer to the situation.

The station is already serving two five-year license probations after serious breaches of the Australian regulator's code.