However, commercial speech is not fully protected by the First Amendment.
E.g., In TV beer ads, no one is actually allowed to drink beer. And there are many more restrictions on commercial speech as well.
N.B., this is in the US. I can't speak for anywhere else.
And the opinions on Gruen v. New York, Dobbs v. Jackson, Loper Bright Enterprises v. Raimondo, and especially on point, Citizen's United all broke with long precedent and turned things upside down. No amendments to repeal/change, just a different set of folks on SCOTUS.
And those were pretty dumb. So perhaps we'll have some improvement eventually, although I probably won't live to see it. And more's the pity.
Edit: Added conclusion.
No rush. I'll wait. But I won't hold my breath.
There's no law, regulation, or court case because the industry self-regulates in fear of a new law being made.
https://www.politifact.com/factchecks/2014/aug/20/heineken/n...
> "The fact that it is self-regulated now, that’s not something brewers would want to put in jeopardy," Kirkpatrick said. "It’s the way they have operated for decades. You show a lot of people enjoying a football game or enjoying a baseball game but you don’t show any consumption. I don't think you’re going to see that change."
> A Heineken beer commercial said regulations ban showing someone drinking beer on camera. If you take a more relaxed view of regulations, that’s close to the truth. The rules come from the television networks, not the government. The restriction might not have the force of law but it’s just as effective. We rate the claim Mostly True.