The White House's "Exclusive" Teleprompter Operator Makes Over $100,000 by Profiting from Insider Information Predictions
"White House Speech Prompt Operator Earns Over $100,000 Using Insider Information on Prediction Markets"
U.S. White House staffer Gabriel Perez, a long-time teleprompter operator for former President Donald Trump, has been suspended without pay for using non-public information to profit on prediction markets. As one of the few individuals with advance access to Trump's prepared speech texts, Perez placed bets on specific words or phrases Trump would mention in speeches over a three-month period, earning over $100,000. His activities were flagged by the prediction platform Kalshi, which froze over $90,000 in his account and reported him to the Commodity Futures Trading Commission (CFTC).
While Perez avoided criminal charges, he is required to return his profits and cease such trading. This case marks the third major instance of insider trading on prediction markets involving government or corporate insiders, following earlier cases involving a special forces soldier and a Google engineer. The incident highlights the vulnerability of "mention" markets on prediction platforms, where individuals with advance knowledge or even the speakers themselves can easily manipulate outcomes. In response, platforms like Kalshi are tightening rules, now requiring users to disclose their employers to help prevent similar abuses.
marsbit07/22 06:50
