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The phrase "are unregulated" is correct and usable in written English.
It can be used to describe entities or activities that are not subject to regulations or oversight.
Example: "Many online platforms are unregulated, leading to concerns about user safety and data privacy."
Alternatives: "lack regulation" or "are not subject to regulation".
Dictionary
are unregulated
verb
To exempt from regulation; to deregulate.
Exact(60)
For now, they are unregulated.
These arrangements are unregulated and controversial.
Online TV stations are unregulated.
Halfway houses, by contrast, are unregulated.
Things are instant, and they are unregulated.
Managers, on the other hand, are unregulated.
Memo to commission: it means they are unregulated.
In the US, specific chemical elements of textiles are unregulated.
It may be technically legal, but they are unregulated and dangerous".
These arms are unregulated by any treaty and are far too vulnerable to theft.
These, again, are unregulated and seem, in some instances, to come with hefty hidden fees attached.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com