TLDR Ireland’s gambling regulator warned it could take High Court action against a large prediction market operator. The regulator did not name the company but said it is one of the largest prediction market firms in the world. Some operators have withdrawn from Ireland after warning letters, and one has already geoblocked the country. The regulator can fine non-compliant companies up to €20 million or 10% of their turnover. Countries including Czechia, France, Spain and the Netherlands have already restricted Polymarket.
Ireland’s gambling regulator says it could take a large prediction market company to court. The Gambling Regulatory Authority of Ireland has not named the firm involved.
Anne Marie Caulfield, who leads the regulator, spoke about the case on RTÉ’s This Week. She described the company as one of the largest prediction market operators in the world.
Caulfield said the firm was operating in Ireland without meeting local rules. She did not confirm the name of the company during the interview.
The regulator has already sent warning letters to several operators. In most cases, Caulfield said, companies chose to leave the Irish market on their own.
How the Regulator Can Act
Caulfield explained that when a company refuses to withdraw, the regulator can ask the High Court for a blocking order. This would stop access to the site and affect related funding.
One operator has already geoblocked Ireland after being contacted by the regulator. The company was not named in the report.
Ireland opened an inquiry into Polymarket earlier this year. The investigation followed a cluster of unusual bets tied to a Dublin by-election.
Several accounts on the platform traded against candidate Gerry Hutch winning the race. Analysts flagged the trading pattern as unusual, which led financial and gambling authorities to look into it.
The Gambling Regulatory