This paper is a preliminary attempt to evaluate the regulatory gap for Unmanned aerial system (UAS) operations in Sri Lanka and to propose improvements to the regulatory framework. Data were collected on the existing distribution of UAS usage in the country. A sample of users of UASs was surveyed to determine current and intended future use of UASs. Using UAS regulations applied elsewhere in the world and other scientific studies, a list of criteria was established. The relative importance of the established evaluation criteria was determined based on the perception of both UAS operators and a sample of the general public. Using the identified criteria and newly imposed UAS regulations in Sri Lanka, the regulatory gap analysis was performed to evaluate the regulatory performance.