It's not being regulated at all, nothing is done about the harmful sites(People rather) that think it's okay to literally rape women on camera and then sell it labeled as "pornography" People think they can get away with anything now because it is all out there and not regulated. Children watch porn because it's everywhere... Men (And women at times) Get bad ideas and harm others because it's as if it's okay in society. I would agree that it shouldn't be illegal except for the fact that it is not regulated(I mention this a number of times because that was your base for not making it illegal) If it were illegal it would only force people to actually go out with each other, share human contact and be polite enough to land a score... The more that happened the happier everyone would be because they'd actually be getting laid instead of touching themselves every night. Seriously it would force human contact because guys would need it(Sex I mean) More people would expand their circles of friendship in order to meet even more people, they would go out more instead of being fat lazy losers sitting in their mom's basement, seriously.... Banning porn would be in the best interest of everyone. Girls would be forced to say yes to more guys they wouldn't normally be interested in when there were no more hot guys doing it for them in threesomes of all men. All in all, if you could actually look at the bigger picture instead of being one of the losers touching yourself... You'd realize people would be much happier keeping their money and having actual intercourse rather then jerking to images. But I suppose you're still stuck in the closest and too afraid to go after the real thing.
Making porn illegal would only serve to drive it underground and make it that much harder to stop sites that promote harmful activities. People would go to more extreme lengths to indulge in their fantasies and some of this indulgence would be detrimental to society at large. At least as things stand, we can keep an easier eye on the porn industry at large, and regulate it.