https://www.gamespot.com/articles/loot-boxes-arent-gambling-say-french-regulators/1100-6460193/

The French regulatory body ARJEL has determined that loot boxes in video games do not constitute a form of gambling. However, the government authority did note in a 2017-18 activity report (via Kitgaru) that the issue needs a closer look, and recommended that Europe should come to a consensus on how to treat loot boxes.

ARJEL is specifically an online gambling authority in France, making this issue fall within its purview. It found that loot boxes are not gambling, since the items do not have real-world value. The Netherlands recently reached a different conclusion due to the existence of third-party sellers. ARJEL disagreed, stating that as long as the developer does not participate in the sale and does its diligence in prohibiting resale, it cannot be held legally responsible for it as a gambling platform.