The biggest threat to America’s 5G leadership isn’t China or Huawei, federal Judge Lucy Koh revealed in her sweeping 233-page ruling against Qualcomm Tuesday in a Federal Trade Commission lawsuit. It’s regulators and judges who try to control markets.

Last month Qualcomm and Apple settled their world-wide feud over royalties that the San Diego chipmaker charges for licensing its standard essential patents. Apple had earlier solicited intervention by the FTC, which during the waning days of the Obama Administration sued Qualcomm...