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Ex-White House aide ordered to pay $172,000 over speech bets
BBC News··29 Aug
Former White House teleprompter operator Gabriel Perez is to pay more than $172,000 after using inside knowledge to bet on President Donald Trump's speeches. The CFTC said he is to surrender $107,539.02 in profits and a $65,000 civil penalty. Perez bet on Kalshi between December 2025 and February 2026. He also faces a three-year trading ban.
Prism
What It Means For You
- US prediction-market users face enforcement when bets rely on non-public speech text before delivery.
- White House aides were told in July not to place bets on prediction markets, officials told CBS News.
- Kalshi said unusual mention-market activity led analysts to identify a federal teleprompter operator.
What's Happening
- The CFTC said Perez misappropriated prior knowledge of Trump speeches in breach of his duty of trust.
- His civil penalty was reduced because of what the regulator called exemplary co-operation.
- In July, then-press secretary Karoline Leavitt said Perez was on unpaid leave and would not return.
How the Kalshi Bets Were Spotted
- Kalshi hosts contracts where users predict whether a speaker will use specific terms in an address.
- The company said it reported the account to the regulator after linking activity to a White House teleprompter operator.
- Kalshi lead lawyer Bobby DeNault said rule or federal law breaches bring consequences regardless of who is involved.
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