If I had to come up with a cognitive science explanation for pro-regulation, regardless of political considerations around whether regulation was good or bad, it would be that failures from too little regulation are obvious, direct, and heartrending (child dies of toxic unproven medicine) and failures from too much regulation are distributed and invisible (child dies of cancer, with no one knowing that a cure sits in a lab somewhere but it's too expensive to license it).
This is because regulation, as a specific action taken to stop a problem, gets to optimize for fighting the most obvious, scary problems in the most direct way - whereas nonregulation, as a null action, doesn't get to optimize for that at all.
Right now, Virginia is regulating abortion clinics, making them meet hospital standards, in order to protect womens' safety. Yet I don't think there are any known cases of failures from too little regulation in Virginia abortion clinics. At least, I haven't heard any brought up.
A response essay written by Eliezer Yudkowsky posted at Cato Unbound for the issue Brain, Belief, and Politics:
Is That Your True Rejection? by Eliezer Yudkowsky
The lead essay has been written by Michael Shermer:
Liberty and Science by Michael Shermer