Markets are created by humans when humans exchange things. The current market price express the current knowledge of all participants about the value of some traded thing. This is a decentralized process that often involves millions of different people with skin-in-the-game.
The argument against government regulation follows from this: regulation distorts the market from an equilibrium price. If this is a temporary measure then regulation is only delaying the inevitable and you should let the market reach equilibrium sooner. If it is a permanent measure, then you have a situation where the market no longer reflects the current knowledge of all participants, and at this point you start to lose the core value of a market.
By the way: markets aren't analogous to smallpox and wildfires, and regulation is not analogous to doctors and firefighters. Although this is an interesting insight into your world-view ;)