unregulated
adj.not controlled or limited by any official rules or laws. You use this to describe businesses or activities that operate without government oversight.
adj.not controlled or supervised by a set of rules, laws, or a governing body. Often used in economic or legal contexts to describe markets or activities lacking official oversight.
“The unregulated market can be very risky for new investors.”
“Many experts worry that unregulated social media platforms allow harmful misinformation to spread without any consequences.”
“The rapid growth of unregulated shadow banking systems has raised concerns among international regulators regarding the potential for a systemic financial collapse similar to previous crises.”
Typically used attributively before a noun; often carries a negative connotation of being unsafe or chaotic.