Credited from: CBSNEWS
Gabriel Perez, a White House teleprompter operator since 2016, is under investigation for allegedly profiting nearly $100,000 through bets placed on the prediction market site Kalshi. He is accused of using insider knowledge about what President Trump would say during public addresses, including the State of the Union speech, to make bets on the platform's "mention markets," where users wager on specific phrases or words the president will utter during events, according to NPR, BBC, and CBS News.
Kalshi has confirmed that it flagged Perez's unusual trading patterns, which did not align with typical market behavior. The company subsequently froze more than $90,000 in his account before those profits could be withdrawn. According to Robert DeNault, head of enforcement at Kalshi, the firm has been cooperating with the Commodity Futures Trading Commission (CFTC) and has provided evidence of the suspected misconduct. The CFTC has not publicly confirmed or denied an investigation into this case, as they typically do with ongoing inquiries, according to BBC and CBS News.
A White House spokesperson noted that President Trump is aware of the situation and described it as "deeply unfortunate and frankly a disgrace." Following the allegations, Perez has been placed on unpaid leave and remains in discussions with the CFTC for a potential settlement. The White House has emphasized compliance with regulations, as violations involving insider information can result in severe penalties, including criminal charges, according to NPR, BBC, and CBS News.