Irish Gambling Authority Warns of High Court Action Against Offshore Prediction Platform

The Gambling Regulatory Authority of Ireland (GRAI) is preparing to escalate enforcement proceedings against a prominent offshore prediction market operator that has allegedly ignored earlier warnings. Chief Executive Anne Marie Caulfield stated the regulator may seek a High Court order against "one of the largest prediction market operators in the world" for continuing to offer services to Irish users without authorisation.

Caulfield disclosed in a radio interview that while most international firms have complied after receiving warning letters, one recalcitrant case may now require judicial intervention. She explained the GRAI can request a blocking order from the High Court that would restrict both access to the site and associated funding flows. However, the authority cannot directly order internet service providers to block unlicensed platforms under existing legislation, forcing it to rely on legal threats and court proceedings.

European Regulators Tighten Screws on Prediction Markets

The GRAI’s stance aligns with a broader European crackdown on prediction platforms. In recent months, Polymarket has been blacklisted in Italy and the Czech Republic, while France’s ANJ ordered a fresh block after users circumvented earlier geo-blocking. Spain briefly blocked both Polymarket and Kalshi in April, and Germany’s GGL has opened an investigation into FIFA partner ADI Predictstreet, which secured a Gibraltar gambling licence earlier this year.

Last month, nine national regulators announced a coordinated effort to warn consumers about integrity and player protection risks linked to prediction markets. The European Securities and Markets Authority (ESMA) has flagged that some prediction products may qualify as restricted financial instruments under EU rules, potentially expanding oversight beyond gambling authorities.

Gibraltar Creates Separate Framework, Setting Up Potential Conflict

Gibraltar has introduced the world’s first dedicated prediction market regulations, classifying them as a distinct category with independent authorisation and compliance requirements. The framework, published under the Gambling Act 2025, will be overseen by a supervisory panel with expertise in remote and digital markets. This move creates a potential regulatory clash between Gibraltar’s permissive approach and the enforcement actions taken by Ireland and other European jurisdictions.