Should the regulation of algorithmic decision-making be considered, and if so, what approach should be taken? Discuss the following topics:

1. Outline the pros and cons of allowing developers to develop algorithms without any legal oversight
2. What are the inherent risks or challenges that come with algorithmic decision-making?
3. Between ethical and legal frameworks, which are more apt for addressing the challenges algorithmic decision-making presents?
4. Enumerate the advantages and disadvantages of legally regulating algorithmic decision-making.
5. What difficulties could arise when trying to regulate algorithmic decision-making?