I don’t know if you’re familiar with the
Knights of the Old Republic video game (...it’s sequels, books, or other supplementary material), but it shedded some backstory light on the subject - even though it was not part of the story arc or the plot.
(I will try to keep this as concise as possible.)
The earliest history of the Star Wars galaxy point to the first galaxy spanning empire being an empire named the Infinite Empire. It was formed by an alien race called the Rakata. They were intelligent but violent conquerors. And they were easily able to achieve this because they had several things going for them... (POSSIBLE MINOR SPOILERS AHEAD) They had very advanced technology while much the galaxy was still relatively more “primitive” by comparison. They had hyperdrive/hyperspace craft earlier than most of the rest of the galaxy, and dominated in space travel ability. And their entire race was naturally able to use the Force. This all occurred over 30,000 years before the OT.
Eventually several factors led to their collapse: a gradual affinity more towards the Darkside, too much infighting, a species specific disease that decimated their population, and other planets and races adopting their tech and overthrowing the control of their warlords.
In the power vacuum absence, the Hutts emerged as a galaxy spanning empire. It seems their race has a natural affinity for managing factions, people, and especially commerce. They used it to amass wealth. Also to buy and control powerful armies to rule the galaxy for a time up until about 15,000 years before the OT.
Then their empire crumbled. They lost wars and governmental control throughout the galaxy. In response to this, they continued to use the same cultural practices of acquiring wealth and controlling commerce. But through the shadows of organized crime and the criminal underworld. (But never through wars or government takeovers again).
Of course all of this is SW Legends now...
Here’s a good starting link if you’re still more curious and want to get deeper into it:
starwars.fandom.com/wiki/Hutt_Empire