White House teleprompter operator fined $172,000 over Kalshi insider bets
What's the story
Gabriel Perez, a teleprompter operator at the White House, has been fined over $172,000 to settle an investigation by a federal regulator. The Commodity Futures Trading Commission (CFTC) had probed him over allegedly making well-timed bets on prediction market platform Kalshi using inside information about President Donald Trump's speeches. The penalty includes a $65,000 fine and the return of more than $107,000 in illicit profits.
Reduced fine
Perez has also agreed to a 3-year trading ban
The CFTC has said that the penalty imposed on Perez is a "substantial discount" due to his cooperation with its investigation.
Along with the financial penalty, Perez has also agreed to a three-year trading ban.
The CFTC's cease-and-desist order noted that as a White House employee, Perez knew the information he learned during his work was confidential and not meant for sharing outside of the White House.
Trade scrutiny
Kalshi flagged suspicious trades in March and alerted the CFTC
Kalshi, the prediction market platform in question, flagged suspicious trades in March and alerted the CFTC.
A White House spokesperson confirmed that an employee was placed on unpaid administrative leave but didn't reveal their identity.
Kalshi's head of enforcement Robert DeNault said in a post on X that they detected prohibited trading activity and warned violators would face consequences regardless of their position.
Betting details
Perez had access to Trump's speeches an hour before delivery
Between December 2025 and February 2026, Perez allegedly placed bets mostly on sports and Trump-related topics on Kalshi.
These included questions like "What will Trump say during his remarks at the Detroit Economic Club?"
The CFTC said Perez usually got access to Trump's speeches about an hour before they were delivered.
Market scrutiny
Case raises concerns about insider trading on prediction markets
The case has intensified concerns about the potential for insider trading on prediction markets.
Lawmakers have proposed legislation to curb certain bets, while the White House has cautioned staff against using confidential information for trades on these platforms.
Kalshi and Polymarket, two popular platforms in the last 18 months, allow users to bet on a wide range of topics from sports events to elections.