Gabriel Perez, who worked with Donald Trump's teleprompter for nearly a decade, has agreed to pay more than $172,000 to settle allegations from the Commodity Futures Trading Commission that he bet on Trump's own speeches using words he saw earlier than anyone else.
Prediction markets surged in popularity in 2026, and this settlement marks the first known instance of a White House insider being caught trading on such a platform. Regulators also issued warnings to public servants that their access to non-public information is not an advantage for betting.
Who Was Betting on Trump's Words?
Gabriel Perez, Trump's longtime teleprompter operator, is accused of placing bets on Kalshi's "mention markets," where traders can guess whether a public figure will say a specific word or phrase during an event.
Perez had an unfair advantage, as he was often the last staffer to see Trump's remarks before they were delivered. The Commodity Futures Trading Commission (CFTC) found that he used this text for his personal financial gain.
The regulator identified 49 trades between December 2025 and February 2026, of which Perez won 39, making over $107,000 in profit. He bet on what Trump might say during the State of the Union address, the National Prayer Breakfast, a Medal of Honor ceremony, and various rallies.
The Commodity Futures Trading Commission (CFTC) ordered Perez to disgorge $107,539.02 in trading profits and pay a separate civil penalty of $65,000. Kalshi also banned him from the platform for three years.
The Commodity Futures Trading Commission (CFTC) said Perez's punishment was mitigated because he demonstrated "exemplary cooperation." They took into account that he voluntarily confessed in an interview, stating his trading decisions were indeed based on information obtained from reviewing speeches.
Christy Goldsmith Romero, a former CFTC commissioner appointed under Joe Biden, said the CFTC missed an opportunity to "send a strong signal" to future insiders.
How Was the White House Insider Caught?
Perez was discovered after Kalshi's surveillance team detected anomalous activity on Trump-related mention markets, traced the account, and linked it to a federal employee operating the teleprompter at the White House. The case was then referred to the Commodity Futures Trading Commission (CFTC).
Bobby DeNo, head of surveillance at Kalshi, stated on X that anyone who violates the company's rules or federal law "will face the consequences."
Perez, who had worked for Trump since the 2016 campaign and earned $175,000 a year as a deputy assistant, was placed on unpaid leave in July. Then-press secretary Carolina Leavitt called his conduct "shameful," and by the end of that month, Perez was reportedly no longer working for the federal government.
Cryptopolitan reported being in contact with former Republican George Santos regarding a contract with Kalshi concerning his attendance at the annual State of the Union address.
Federal prosecutors have also charged a U.S. Army soldier with betting on the Polymarket exchange regarding the capture of Venezuelan leader Nicolás Maduro, and a Google engineer who made about $1.2 million trading on internal search data.
Commodity Futures Trading Commission (CFTC) Chairman Michael Selig, appointed by Trump, has supported the prediction market industry but also vowed to crack down on insider trading within it.





