There is a small legal matter to attend to and then private industry will take care of developing outer space. As it stands now, however, private industry will not take care of developing outer space. Private industry is effectively excluded from outer space.
Who will enforce those laws after private industry gets there? Will the U.N. shoot them down? Ditto the seabed and LOST. And Antarctica. When the point is reached that it makes sense to exploit those places, or there is commercial opportunity in doing so, private industry will do it. Until then, public research funding is simply someone's pork. NASA is just an extreme example of how we in America took the Soviets' purely military aerospace effort, and turned our response into a pork-laden 'research' effort, one that cannot be killed now since so many Senators and Representatives get a chomp on the bacon.