A man has been arrested and a gun has been seized in Inchicore.
Gardai say they saw two men getting into a taxi on Turvey Avenue last night, who they describe as 'of interest'.
Officers stopped the taxi, noticed a smell of cannabis, and searched the two men.
One was wearing a ballistic vest, with a pistol concealed, and had a substantial sum of cash on him.
The man in his 20s is being questioned at a garda station in the city where he can be held for up to three days.
"One of the males was found to be wearing a ballistic vest and in possession of a substantial sum of money. As he was being searched, a .22 calibre pistol fell from being concealed in the ballistic vest.
"The male in his 20s has been arrested in connection with the seizure and is currently detained under Section 30 of the Offences Against the State Act, 1939 at a Garda Station in Dublin.
"The firearm seized is now subject to full technical examination.
"This investigation is ongoing."