Sources have said that the raids were focused on a North Inner City based criminal who is allegedly engaged in the lucrative prescription drugs trade.
A source said: "The man is linked to both the Hutch side and the Kinahan side but it is not believed to involve either of those gangs.
"He is alleged to have been selling large quantities of xanax and other drugs in the north inner city and this has drawn the attention of profilers."
The raid in Dublin 10 was at a solicitor's office while the Dublin 22 was at the home of a woman linked to the man from Dublin 1.
Gardai also seized €10,000 in frozen accounts in a "financial institution" as part of their investigation.
Meanwhile in County Wexford was in relation to other offences related to the sale of caravans.
There were no arrests and investigations are ongoing.