The gaming industry, through its successful platforms, fosters the development of cognitive and social skills in children, such as increased socialization and even programming abilities. However, it also brings a range of challenges, including addiction, exposure to inappropriate content, and threats to privacy. This research aimed to identify the main risks and opportunities associated with gaming platforms to explore best practices and regulatory pathways. To achieve this, we analyzed data from the public consultation on platform regulation conducted by CGI.br in 2023, supplemented by a review of recent news articles. The study revealed six main risks, including harassment and the encouragement of purchases, as well as three opportunities, such as the development of technical and behavioral skills. Our analysis highlights the need for stronger regulation and safer business practices in models like Roblox’s, particularly regarding child protection. Moreover, it is essential to adopt approaches that promote educational benefits and ensure inclusive digital environments, with regulations that balance innovation and the well-being of younger users.