Control, limits and tampering rules will have to be a part of this. If not, it’s nothing more than the Wild West where the gun slingers have the cash.
Tampering is going to be very hard to prove, as I'm sure communication between the players and other interested parties are several layers deep. That's why regulations won't really fix this because no matter what rules are put in place, programs are very good at finding ways to circumvent them.
The only way to "fix" this is to completely burn the current system to the ground and do the following...
1. Appoint a CF commissioner.
2. Drop the academic facade and declare players no longer as "student" athletes but contract employees of the university.
3. Decree that all players have 5 years to play 4 and players must sign 4 year contracts, with the university having the option to pick up a 5th. This will eliminate the transfer portal nonsense. If players want to leave for the NFL after 3 years, the team that signs them has to agree to pick up the tab for their 4th year. If they refuse, the player must either return for their 4th season, or sit out.
4. Eliminate early signing day and restore it back to early February, like it was before.
5. Enforce a spending hard cap among all universities for NIL.
6. Each program can have a total of 85 players on the team, 70 on the official roster and 15 on the practice squad. This is plenty! If the NFL can function with a 53 man roster and 17 on their practice squad, college teams can function at 70/15.