And while gun-rights' organizations like the NRA cheered today's ruling, several mayors worried about what happens next, CBS News correspondent Bill Whitaker reports.
In Chicago, which has been rocked and shocked by gun violence in recent years, the reaction to today's Supreme Court decision was swift and sharp.
Richard Daley, mayor of Chicago, said, "We've shown time and time again how many children have been killed in their homes by guns!"
Chicago, which passed a gun ban similar to Washington, D.C's, 25 years ago, had 325 gun homicides last year.
One was a 10-year-old shot in the head. Another was a pregnant woman gunned down. And yet another was a college student shot and killed.
Mayor Daley said that the court's decision will make his mean streets even more dangerous.
"The Supreme Court and Congress has no obligation to keep our country safe. That falls on the backs of mayors and local officials," Daley continued.
According to the U.S. Centers for Disease Control, 30,000 Americans die from gun violence each year, equaling about 80 a day.
Chief William Bratton, of the Los Angeles Police Department, shared his thoughts. "The insanity continues. America's love affair with firearms was reaffirmed by the Supreme Court," Bratton said.
Sen. Diane Feinstein, D-Calif., added, "And I happen to believe that this is now going to open the door to litigation against every gun safety law that states have passed."
In fact, the gun lobby is wasting no time. Fifteen minutes after the high court's ruling the Illinois Rifle Association filed a lawsuit challenging Chicago's ban.
Lawyers for the NRA are filing suit in California tomorrow to overturn a San Francisco law banning guns on city property - including housing projects.
"It's really about a fundamental right, even a common-law right to self-defense," said NRA attorney Chuck Michel.
And Chris Daly of the San Francisco Board of Supervisors said: "If we do not allow lawmakers, those elected by the citizenry, to regulate handguns, then we are taking away one of our most powerful tools to save lives."
While this ruling still allows some regulation of guns, it's bound to trigger years of litigation as regulation opponents challeng gun laws around the country.