Table 2. Possible Outcomes Under the Central Hudson Test.

Characteristics of the Commercial Speech	May the Government Regulate the Speech?
Commercial speech that is misleading or related to an unlawful activity	Yes. Regulations that restrict this speech are constitutional. This speech is ineligible for constitutional protection and is regulable speech.
Commercial speech that is neither misleading nor related to an unlawful activity	Yes, if the regulation meets certain criteria. This speech is eligible for constitutional protection but it nevertheless can be regulated provided that the government has a substantial interest and the regulation directly advances that interest and is no more extensive than it needs to be. Regulations that meet these criteria are constitutional and the commercial speech in question is regulable.
	No, if the regulation fails to meet the criteria. This speech is eligible for constitutional protection, and regulations that fail to meet the criteria just described are unconstitutional. The speech is protected by the First Amendment.