Depending on what limits can be imposed on the re-selling, I've always been afraid that laws like this could potentially be quite dangerous for digital goods markets.
If we would apply the First Sale doctrine in the fullest to digital content, secondary marketplaces would pop-up where people just rented games by the hour instead of purchasing them. With the transaction costs being really low, and the utilisation rate for many games being fairly low, this seems like a no brainer.
There are important differences between physical content and digital content that need to be considered.
First sale in the US already has something to deal with this.
17 USC 109(a) is what most people think of when they talk of the first sale doctrine in the US. That's the part that says that owner of a particular lawfully made copy "is entitled, without the authority of the copyright owner, to sell or otherwise dispose of the possession of that copy or phonorecord".
Renting is included under "otherwise dispose of the possession".
What is less well known is 17 USC 109(b)(1)(A). That carves out an exception for copies of sound recordings of musical works and copies of computer programs ("including any tape, disk, or other medium embodying such program"). The exception prohibits "for the purposes of direct or indirect commercial advantage" disposing of or authorizing disposal of possession of that copy by "ental, lease, or lending, or by any other act or practice in the nature of rental, lease, or lending", unless authorized by the copyright owner.
So for programs, first sale allows selling copies but not renting them (same for musical recording). Hence, the reason you saw back in the CD days many places selling used music CDs and used software CDs, but not many selling rentals of those. (There were software rental stores, but they were not operating legally).
There is also exception to the exception. 17 USC 109(1)(B) says that 109(1)(A) does not apply to:
(1) a computer program which is embodied in a machine or product and which cannot be copied during the ordinary operation or use of the machine or product; or
(2) a computer program embodied in or used in conjunction with a limited purpose computer that is designed for playing video games and may be designed for other purposes.
That's why it is legal to rent console games, such as GameFly does. It's also why rental car companies don't have to get permission from whoever owns the copyright on the engine control unit software or the entertainment system software.
There are other exceptions in 17 USC 109 for things like nonprofit educational institutions and libraries which are not relevant to this discussion. If anyone wants to read the whole thing, here it is: https://www.law.cornell.edu/uscode/text/17/109
If we would apply the First Sale doctrine in the fullest to digital content, secondary marketplaces would pop-up where people just rented games by the hour instead of purchasing them. With the transaction costs being really low, and the utilisation rate for many games being fairly low, this seems like a no brainer.
There are important differences between physical content and digital content that need to be considered.