Ex-White House teleprompter operator fined $172,000 for Trump speech bets
Summary
A former White House teleprompter operator, Gabriel Perez, was fined $172,000 by federal regulators for betting on President Trump’s speeches using secret information he accessed at work. The Commodity Futures Trading Commission (CFTC) found that Perez used private speech details to win bets on a prediction market and banned him from trading for three years.Key Facts
- Gabriel Perez worked as a teleprompter operator at the White House from December to February.
- Perez placed bets on the Kalshi prediction market based on words President Trump was expected to say in speeches.
- He used confidential information he gained from his job to make these bets, which is illegal.
- The CFTC fined Perez $107,539 in profits gained plus a $65,000 penalty, totaling $172,000.
- Perez agreed to stop violating laws against market manipulation and accepted a three-year ban on trading.
- It is unclear if Perez resigned or was fired after being put on unpaid leave during the investigation.
- Perez’s annual salary at the White House was $175,000.
- The CFTC thanked Kalshi for helping with the investigation.
- The article notes other cases where insiders bet on political events using prediction markets, raising concerns about insider trading.
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