A former White House teleprompter operator has been ordered to pay more than $172,000 after using advance access to President Donald Trump’s prepared speeches to place bets on an online prediction market.
The US Commodity Futures Trading Commission (CFTC) said Gabriel Perez used confidential information obtained through his White House position to trade contracts linked to words and phrases Trump would use in his public remarks.
Under a settlement with the regulator, Perez will have to surrender $107,539.02 in profits and pay an additional $65,000 civil penalty, bringing the total to $172,539.02. He has also been barred from trading on CFTC-registered entities for three years.
How did the betting work?
Perez traded on Kalshi, a prediction-market platform that offers so-called “mention markets”. These contracts allow users to speculate on whether specific words or phrases will appear in a public figure’s speech.
According to the CFTC, Perez had access to Trump's prepared remarks before they were delivered. He allegedly used that information to make trades between December 2025 and February 2026, generating more than $107,500 in profits.
The regulator said Perez's actions amounted to using material, non-public information for personal financial benefit and violated his duty of trust and confidence.
CFTC reduces penalty over cooperation
Although the regulator imposed a $65,000 civil penalty, the CFTC said the amount represented a substantial reduction because of Perez's cooperation with the investigation.
Perez agreed to the settlement without admitting the regulator's findings, while also agreeing to stop any further violations of relevant federal commodities laws and regulations.
White House had placed him on leave
The controversy first emerged publicly in July, when reports revealed that Perez was being investigated over his prediction-market activity.
He was subsequently placed on unpaid administrative leave and is no longer working for the federal government. The White House has not publicly clarified whether he resigned or was dismissed.
The White House had also warned staff members against using confidential government information to place bets on prediction markets.
Kalshi flagged the activity
Kalshi's surveillance systems detected unusual trading activity and the company later referred the matter to the CFTC.
The case highlights growing concerns about insider trading on prediction markets, which have rapidly expanded beyond elections and sports to include bets on speeches, economic events and other developments.
