IPA: /ˌʌnˈrɛɡjʊˌleɪtɪd/
KK: /ʌnˈrɛɡjʊˌleɪtɪd/
Not controlled or restricted by rules or laws.
The unregulated market led to many unfair practices.
Unregulated → It is formed from "un-" (meaning not) and "regulatus" (from Latin "regulare", meaning to control or direct). The word "unregulated" means not controlled or directed, indicating a lack of regulation.
Think of 'not' ('un-') having control or direction ('regulare') — that's why unregulated means something that is not controlled.