The Gambling Regulatory Authority of Ireland (GRAI) has made it clear that prediction market platforms must prevent access to Irish users or face legal consequences, including potential High Court actions. This warning comes as both Polymarket and Kalshi have added Ireland to their list of restricted jurisdictions.
As of July 21, 2023, Polymarket updated its Geographic Restrictions to include Ireland, while Kalshi had already categorized the country as restricted in its Member Agreement. This move aligns with similar actions taken by France and Czechia, where internet service providers were instructed to block Polymarket's access.
These developments reflect a growing trend among regulators who are increasingly viewing prediction markets as unlicensed gambling entities rather than legitimate financial trading platforms.
In an email to Gambling Insider, the GRAI emphasized that starting July 1, 2026, any operator offering remote betting services to Irish consumers will be required to obtain a GRAI license. The authority stated, "Prediction markets that provide betting activities fall within the definition of remote betting intermediary under Irish law."
The GRAI has warned operators without a license to take immediate action to prevent Irish consumers from accessing their platforms, as failure to comply may lead to enforcement measures.
The authority is particularly focused on combating black market gambling, which includes unlicensed prediction markets. It has already taken steps against one major platform that voluntarily restricted access to Ireland, preventing new account registrations and limiting existing accounts from making deposits or opening new positions.
If voluntary measures are insufficient, the GRAI has indicated it will pursue High Court orders to enforce compliance. Additionally, the authority is conducting ongoing investigations related to black market gambling, which may lead to future prosecutions.
Concerns regarding unregulated betting have been raised previously by Irish lawmakers. In May, Finance Minister Simon Harris described platforms like Polymarket as the “Wild West” and mentioned investigations into suspicious betting activities and potential money laundering.