Trump speech lands former White House teleprompter operator in trouble, fined ₹1.65 million: What CFTC found | Today’s news
Former White House teleprompt operator Gabriel Perez agreed to pay $172,539 (approx. ₹1,64,66,182) to settle a federal investigation into allegedly timing bets on a prediction market linked to speeches by President Donald Trump, Bloomberg reported.
He will pay $65,000 (approx ₹6,180,518) Commodity Futures Trading Commission (CFTC) fine and a loss of over $107,000 (almost ₹1,01,81,724) in profit. Perez pleaded not guilty to the regulator’s allegations that he improperly used inside information to make profitable trades on the Kalshi prediction market platform.
What the CFTC found
The CFTC said in a news release that the penalty was reduced through a “significant discount” in recognition of Perez’s cooperation with the agency’s investigation. The regulator also said Perez had agreed to a three-year trading ban.
In its cease-and-desist order, the CFTC said: “As someone working at the White House, Perez understood that the information he learned about in the course of his work was confidential and not to be shared with anyone outside the White House.
An attorney representing Perez was not immediately available for comment, according to the report.
According to the CFTC, Perez allegedly made trades between December 2025 and February 2026, with most of his bets focused on sports and Trump-related events. His bets included questions like “What will Trump say during his remarks at the Detroit Economic Club?”
The CFTC said Perez typically had access to Trump’s speeches about an hour before they were delivered.
Kalshi uncovered what it believed to be unusual trading activity in March and reported it to the CFTC, Bloomberg reported in July. At the time, a White House spokesman said the staffer had been placed on unpaid administrative leave, but did not identify the person. The CFTC considers prediction market platforms to be derivatives exchanges that fall under its regulatory authority.
Kalshi’s head of enforcement, Robert DeNault, said in a post on X Friday night that the company had uncovered business activities that violated its rules. DeNault said the platform will hold traders accountable regardless of their status and warned that anyone who violates its rules or federal law will face consequences.
The case added to growing concerns about the potential of prediction markets to create new avenues for insider trading.
US lawmakers have introduced legislation seeking to curb certain types of prediction market bets, while the White House has warned its staff against using confidential information to trade on such platforms.
Kalshi and Polymarket
Prediction markets such as Kalshi and Polymarket have reportedly gained considerable popularity over the past 18 months, offering users the chance to bet on outcomes ranging from sporting events to elections. These include so-called mention markets, which Perez traded in, and allow users to bet on whether prominent individuals will say specific words or phrases during speeches, earnings calls or post-game media interactions.
Both Kalshi and Polymarket said they do not support insider trading and said they monitor their platforms for suspicious activity and report potential violations to law enforcement and federal regulators.
