![\"The](\"https:\/\/www.newsbeep.com\/ie\/wp-content\/uploads\/2026\/07\/gambling-regulator-threatens-prediction-market-with-high-court-action.jpeg\")
Polymarket is restricted in several countries (Cillian Sherlock\/PA)<\/p>\nOne of the largest prediction market websites has been threatened with court action if it does not geoblock Ireland, the head of the Irish gambling regulator has said.<\/p>\n
Prediction markets are platforms where users can trade bets and gamble cryptocurrency on sports, the financial sector, politics and more, including events relating to the war in the Middle East, the existence of aliens, and tweets posted by Elon Musk.<\/p>\n
Anne Marie Caulfield, who has been chief executive of the Gambling Regulatory Authority of Ireland (GRAI) since it began operations last year, said prediction markets amount to betting and therefore fall under her remit.<\/p>\n
She said the GRAI enforcement team has already been active in the space, with one of the largest such markets already geoblocking on foot of \u201cintervention\u201d from the authority.<\/p>\n
Speaking on RT\u00c9\u2019s This Week radio programme, Caulfield said a second \u201cis in the process of doing so\u201d.<\/p>\n
She added: \u201cAnd if they don\u2019t, it\u2019s open to us to go to the High Court.\u201d<\/p>\n
She said sites were withdrawn in Ireland in the \u201cvast majority\u201d of the almost 30 interventions the GRAI had made.<\/p>\n
She added that this had happened as quickly as 35 minutes after the intervention.<\/p>\n
Polymarket is restricted in several countries (Cillian Sherlock\/PA)<\/p>\n
Asked what the High Court action may look like, Caulfield said: \u201cIn the instance where they don\u2019t do so, we can go to the High Court and get a blocking order for access to the site, and also in relation to the funding involved.\u201d<\/p>\n
Pressed on whether that action had been threatened, she said: \u201cWe have issued warning letters, yes, to that effect.\u201d<\/p>\n
Caulfield did not name the prediction markets involved.<\/p>\n
However, users from Ireland are already prohibited from trading \u201cevent contracts\u201d on the prediction market Kalshi, as per its membership agreement which also lists 55 other restricted countries.<\/p>\n
One of the other main prediction markets, Polymarket, has seen restrictions in more than 30 countries including Belgium, Germany, Italy, France, the UK, and Poland \u2013 while it operates in the US with additional compliance measures.<\/p>\n
In May, T\u00e1naiste and Finance Minister Simon Harris said he would ask garda\u00ed, regulators and government departments to examine \u201csuspicious bets\u201d made on Polymarket.<\/p>\n
He raised \u201cgrave concerns\u201d around a \u201cWild West\u201d of unregulated betting on the platform, as he said it would be prudent to examine if there was money laundering occurring.<\/p>\n
![\"Irish](\"https:\/\/www.newsbeep.com\/ie\/wp-content\/uploads\/2026\/07\/gambling-regulator-threatens-prediction-market-with-high-court-action.jpg\")
T\u00e1naiste Simon Harris (Liam McBurney\/PA)<\/p>\n
His comments came after reports highlighted a million dollars worth of betting on the outcome of the Dublin Central by-election, with hundreds of thousands of that volume placed on Gerry \u201cThe Monk\u201d Hutch not to win a seat \u2013 which is what transpired.<\/p>\n
![\"Amazon](\"https:\/\/www.newsbeep.com\/ie\/wp-content\/uploads\/2026\/07\/0cf73953-f685-4007-9053-2d43041406ee-e1742836700331.jpg\")
<\/p>\n