I believe those are called barriers to entry to protect vested interests. Also known as pulling the ladder up behind you. Why that works in the US is beyond me. I recall a recent study from one of the Ivy leagues that shows that historically the elected representatives favor the elite over the people in the US.

I think the elected representatives have to represent the people, otherwise you don’t really have a democracy, right?

That's not what the rest of the world considers a "regulation"