Ireland’s gambling regulator has warned that it is prepared to seek a High Court order against a major prediction markets platform accused of illegally offering services to customers in the country, marking another sign of Europe’s increasingly tough stance on the fast-growing sector.
Anne Marie Caulfield, Chief Executive of the Gambling Regulatory Authority of Ireland (GRAI), said the regulator is considering legal proceedings against what she described as “one of the largest prediction market operators in the world” after the company allegedly continued targeting Irish consumers despite regulatory intervention.
Speaking to RTÉ, Caulfield explained that most prediction market operators contacted by the regulator have voluntarily restricted access to Irish users. However, she said the authority is prepared to escalate enforcement when companies refuse to comply.
If legal action proceeds, GRAI would ask Ireland’s High Court to issue orders blocking access to the platform and restricting related payment activity, as the regulator currently lacks the authority to impose ISP-level website blocks on its own.
Ireland introduced the Gambling Regulation Act 2024, leading to the establishment of GRAI in 2025. The regulator recently assumed responsibility for licensing online gambling operators but still relies on court proceedings to pursue offshore websites that ignore Irish rules.
The warning comes as European regulators increasingly scrutinize prediction markets, whose operators argue they offer financial event contracts rather than traditional gambling products. The sector has expanded rapidly in recent years through platforms such as Polymarket and Kalshi, attracting growing attention from both gambling and financial regulators.
France recently ordered internet service providers to block access to Polymarket after determining the platform was operating illegally, while Italy has also classified the company as an unauthorized gambling operator. These actions reflect a broader effort by several European jurisdictions to prevent unlicensed prediction market platforms from serving local customers.
Meanwhile, financial regulators are also examining the sector. Last week, the European Securities and Markets Authority (ESMA) reminded firms that some event contracts may qualify as financial instruments under EU law and could therefore fall under existing restrictions on binary options, while firms offering such products may require investment firm authorization.
Despite the tougher approach across much of continental Europe, Gibraltar has taken a different path by introducing a dedicated regulatory framework for prediction markets and licensing operators under that regime, highlighting the growing regulatory divide over how the emerging industry should be governed.