White House removes teleprompter operator accused of making $90,000 from bets on Trump’s speeches — Details
A White House teleprompter operator is being investigated by the Commodity Futures Trading Commission (CFTC) for allegedly placing bets linked to Trump's speeches and profiting by $90,000. The White House has sent the accused on unpaid leave; Trump has called the incident a ‘disgrace.’
A White House teleprompter operator is under investigation by the Commodity Futures Trading Commission (CFTC), a US federal regulator. He is accused of profiting from Kalshi prediction market wagers linked to US President Donald Trump's speeches.
The accused, Gabriel Perez, has worked as a teleprompter operator at the White House since 2016. He allegedly placed bets on words Trump would use during major public addresses, including the State of the Union address, ABC News reported on Thursday.
What we know
Kalshi said it froze over $90,000 in profits held in a customer's account after the trader allegedly relied on confidential information to make over $100,000 from bets placed on the exchange.
It later alerted the Commodity Futures Trading Commission (CFTC), the regulator that views the platform as a derivatives exchange under the agency's jurisdiction, regarding the suspicious activity on its "Mentions" market, where users place bets on whether specific words, phrases or topics are likely to be uttered during a speech.
Apart from the State of the Union address in February, CFTC investigators also discovered that Perez made several bets on more than a dozen of Trump's speeches over three months. These addresses include bets on the December primetime address, a January speech at the World Economic Forum in Davos and his remarks in March at a Medal of Honor ceremony, ABC reported.
Bobby DeNault, Kalshi's head of enforcement, said, "Our surveillance team promptly flagged and referred these trades to the CFTC after an exchange investigation. We have been assisting regulators on this matter and provided evidence we collected, as we do in any referral."
White House calls incident 'deeply unfortunate'
In a briefing on Thursday, White House Press Secretary Karoline Leavitt said that Trump called the incident "deeply unfortunate and frankly a disgrace," adding that the employee was put on unpaid administrative leave, without naming him. She added that she was unaware of any other White House staffers who have engaged in such trades.
White House spokesperson Davis Ingle said, "The White House has strict ethics guidelines that we expect all staffers and officials to follow."
Earlier in March, the White House issued an internal memo warning its staff against using confidential information to make bets on prediction markets, ABC reported.
Who is Gabriel Perez?
Perez has been Trump's teleprompter operator since his first presidential campaign. He is considered one of Trump's most trusted aides and is typically the last person to review nearly all of the US president's prepared remarks. He is also known to incorporate last-minute changes dictated by Trump. He has previously faced scrutiny from congressional and federal investigators over revisions made to Trump's remarks before his speech related to the 6 January 2021, attack on the US Capitol.
US soldier arrested over Venezuela President's removal bets
Earlier in April, the Trump administration ordered the arrest of a soldier, Gannon Ken Van Dyke, after he allegedly placed bets on the removal of former Venezuelan President Nicolas Maduro before the information was made public. Dyke, who participated in the military operation to capture Maduro, allegedly earned more than $400,000 by placing trades on Polymarket using classified information about the timing of Maduro's arrest.
Prediction markets surge under Donald Trump
According to a Bloomberg report, prediction markets have exploded into a multibillion-dollar industry since Trump returned to the White House for a second term. His family has also entered the prediction market space, with Donald Trump Jr serving as an adviser to both Kalshi and Polymarket.
As prediction market trading surges, concerns over insider trading have intensified, with critics warning that people with privileged information could profit from it. Some contracts, including those tied to potential military action and others resembling bets on assassinations, have also drawn criticism.
About the Author
Swati Gandhi is a digital journalist with over four years of experience, specialising in international and geopolitical issues. Her work focuses on foreign policy, global power shifts, and the political and economic forces shaping international relations, with a particular emphasis on how global developments affect India. She approaches journalism with a strong belief in context-driven reporting, aiming to break down complex global events into clear, accessible narratives for a wide readership.<br><br> Previously, Swati has worked at Business Standard, where she covered a range of beats including national affairs, politics, and business. This diverse newsroom experience helped her build a strong grounding in reporting, while also strengthening her ability to work across both breaking news and in-depth explanatory stories. Covering multiple beats early in her career has helped her be informed about her current work, allowing her to connect domestic developments with wider international trends.<br><br> At Live Mint, she focuses on international and geopolitical issues through a business and economic lens, examining how global political developments, foreign policy decisions, and power shifts impact markets, industries, and India’s strategic and economic interests.<br><br> She holds a Bachelor’s degree in English (Honours) from the University of Delhi and a Master’s degree in Journalism and Mass Communication from Guru Gobind Singh Indraprastha University. Her academic training has shaped her emphasis on precision, analytical rigour, and clarity in writing. Her interests include global political economy and the intersection of geopolitics with business.<br><br> Outside work, Swati focuses on exploring her passion and love for food. From fancy cafes to street spots, Swati explores food like a true foodie.
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