Yes, most older boats just circulate lake/ocean water. They do generally have a water-cooled exhaust manifold and a back-fire arresting carb. Some have better sealed ignitions, etc. In the end, they are just an engine. However, many don't have accessory holes so double-check that out and if you are in an emissions state, you may have to consider that as well.
If you do use it on a sealed system, make sure to flush it real well because all the mud and crud could still be in the block water passages. Also, there have been a LOT of broken blocks over the years from idiots that don't properly winterize their inboards so you should hook it up to a water cuff and test it out.
On the plus side, many marine engines are higher performance than their land counterparts thanks in large part to formerly not having any/many emission standards to meet.