Enables aryldialkylphosphatase activity. Involved in several processes, including response to fatty acid; response to fluoride; and response to nutrient levels. Located in extracellular space and intracellular membrane-bounded organelle. Human ortholog(s) of this gene implicated in several diseases, including artery disease (multiple); cerebrovascular disease (multiple); eye disease (multiple); glucose metabolism disease (multiple); and hematologic cancer (multiple). Orthologous to human PON1 (paraoxonase 1). [provided by Alliance of Genome Resources, Apr 2022]