The laws governing weapons are intentionally lax in order to give the populace a (false) sense of confidence in their own security. Given the minimal protections the corporations otherwise put in place, and the stresses of city life, there really is no mystery as to why so many choose to arm themselves.
However, that doesn't mean that restrictions do not exist.
High-power, explosive, and military-grade weaponry are strictly regulated due to the risk that they pose to environmental integrity. These require staff approval and require valid in-character reasons for a character to have them
As a result, the majority of residents prefer to equip themselves with blades and other such defensive weapons.