I could see why someone might be confused in the Mayer of what the FCC can regulate, considering that it regulates the content of television and radio broadcasts and somehow regulates cable TV providers, despite the use of wired connections to customers, instead of radio transmissions.
> somehow regulates cable TV providers, despite the use of wired connections
They regulate broadcast TV. Those rules leak into cable TV because the originators generally want content that can be sold for broadcast in the future and is advertiser friendly. Cable operators are also often beholden to community standards imposed by municipalities they serve. The FCC isn't responsible for content restrictions on cable.
Where in the Federal Communications Commission's governing legislation does it say that they're only allowed to regulate things sent through the airwaves?
It applies to communications over radio or wire: “The provisions of this act shall apply to all interstate and foreign communication by wire
or radio and all interstate and foreign transmission of energy by radio, which originates and/or is received within the United States, and to all persons engaged within the United States in such
communication or such transmission of energy by radio, and to the licensing and regulating of all radio stations as hereinafter provided…”