The category of regulatory authorities is a relatively new concept in the doctrine of administrative law – their emergence is associated with the process of liberalization of the Polish economy in the 1990s and the implementation of EU law into the national legal order. One of the distinguishing features of regulatory administration is the wide scope of its discretionary power, taking the form not only of classic administrative discretion, but also of general clauses, broad definitions, or references to fields of knowledge other than law. This scope translates into broad possibilities for interference by the regulatory body in the entrepreneur's freedom of economic activity. The subject of consideration in the article is the search for the constitutional limits of the regulatory body's discretionary power under Articles 20, 22 and 31(3) of the Polish Constitution. These considerations are also illustrated with examples of decisions issued in the current practice of regulatory administration.