No constraints exist on election wagers, says watchdog, as by-elections attract $1m in bets

The Gambling Regulatory Authority of Ireland said a new licensing regime is being rolled out under the Gambling Regulation Act 2024

Over $500,000 has been bet on Polymarket on Gerry 'The Monk' Hutch in the Dublin Central by-election. Photo: Claudia Savage/PA

There are no restrictions on gambling in Irish by-elections, the industry watchdog has said, as money pours into US prediction markets.

Polymarket, which bills itself as the world's largest predictions market, has reported that over $1m has been staked on the outcome of the Dublin Central by-election, with $181,000 wagered on campaigner Gillian Sherratt — who lost Sinn Féin's selection convention to councillor Janice Boylan — and over $500,000 being bet on Gerry 'The Monk' Hutch.