A White House employee who controlled President Donald Trump's teleprompter is under federal investigation for allegedly using his access to upcoming speeches to make nearly $100,000 in bets.
Gabriel Perez, who has operated White House teleprompters since 2016, is accused of exploiting his advance knowledge of the president's remarks to place wagers on Kalshi, a major prediction market platform. Kalshi offers "mention markets," where users bet on whether a speaker will use specific words or phrases during high-profile events. Perez reportedly placed bets on Trump's speeches, including the February State of the Union address, a Medal of Honor ceremony, and remarks at the World Economic Forum.
According to reports, Perez won more than $100,000 before Kalshi's surveillance team noticed unusual betting activity in March. The platform identified the user as a federal employee and froze his account, preventing him from withdrawing more than $90,000. Kalshi then reported the trades and handed evidence over to the Commodity Futures Trading Commission (CFTC), the regulatory body that oversees prediction markets.
Following the discovery, White House press secretary Karoline Leavitt confirmed that President Trump was aware of the situation. Perez has been placed on unpaid leave and will no longer work at the White House. He is reportedly cooperating fully with the CFTC. While the CFTC has declined to officially confirm or deny the probe, sources say the agency is discussing a settlement that would require Perez to return his winnings and agree not to make similar trades. Federal prosecutors in Manhattan have declined to pursue criminal charges.
The scandal highlights growing concerns about insider trading on prediction markets, which have surged in popularity. Because political speeches and decisions can influence financial markets, platforms like Kalshi have recently implemented stricter rules, requiring users to disclose their employment information before betting on high-risk markets.