White House teleprompter operator accused of betting on Trump speeches

Gabriel Perez, President Donald Trump's longtime teleprompter operator, has been placed on unpaid administrative leave after allegedly using inside knowledge to bet on the content of Trump's speeches via the prediction market Kalshi, making over $100,000 in profits Source: ABC News. The White House press secretary, Karoline Leavitt, described the conduct as "deeply unfortunate" and a "disgrace" Source: BBC.

The Allegations

Perez is accused of betting on Kalshi's "mention markets," where users wager on words or phrases a speaker will utter during events. He allegedly placed bets on more than a dozen speeches, including the State of the Union address, remarks at the World Economic Forum, and a Medal of Honor ceremony Source: CNN. Reports indicate he sometimes pulled out of bets mid-speech when Trump deviated from his prepared remarks Source: Gizmodo.

Investigation and Response

Kalshi's surveillance team flagged the unusual trading and referred it to the Commodity Futures Trading Commission (CFTC) Source: The Verge. The CFTC and Perez are in settlement talks, with Perez reportedly agreeing to return his winnings Source: NPR. Federal prosecutors in Manhattan declined to open a criminal case Source: AP News. The White House stated it has strict ethical guidelines against such behavior Source: CNA.

Broader Context

This case is the first known instance of a White House employee investigated for insider trading on prediction markets Source: CNN. The CFTC under Trump has championed prediction markets but vowed to crack down on insider trading Source: CNN.