Why is its possessive form without an apostrophe, when it’s opposite of other English rules and often counter-intuitive?

Question

See this headline: proper usage, but difficult to parse. “It’s” = “it is”, exclusively. The origin of this “exception” rule?

In: 6

Answer 1

Look at it from a different perspective. The words it’s, how’s, what’s, and that’s seem to follow the same rule here