Trump Teleprompter Operator Under CFTC Investigation Over Kalshi Trades

Richard Janvrin
By: Richard Janvrin
Legal
Trump Teleprompter Operator Under CFTC Investigation Over Kalshi Trades

Photo by NARA and DVIDS Public Domain Archives, PDM 1.0

Key Takeaways

  • The CFTC alleges a Trump aide profited from prediction market trades tied to speeches
  • Kalshi reported the suspicious trading activity to federal regulators
  • The White House placed the staffer on unpaid administrative leave

According to ABC News, federal investigators with the Commodity Futures Trading Commission found that President Donald Trump's longtime teleprompter operator, Gabriel Perez, is believed to have made tens of thousands of dollars by placing trades on prediction market Kalshi involving speeches made by the president. 

Now, ABC News says that Perez, who's been a technical assistant to the president since 2016, is in talks "with federal regulators to settle allegations he used his inside knowledge of the president's speeches to win more than $100,000."

The report continues by saying that Kalshi—who's been involved in many recent lawsuits concerning prediction markets—alerted the Commodity Futures Trading Commission to suspicious activity on its "Mentions" market, which has to do with specific phrases or topics mentioned during a public speech. 

"Our surveillance team promptly flagged and referred these trades to the CFTC, and we are cooperating and assisting regulators," Kalshi's head of enforcement, Bobby DeNault, said to ABC News.

White House Responds to Investigation

The White House Press Secretary, Karoline Leavitt, confirmed Perez was placed on unpaid administrative leave. 

Trump said that he thought it was a "disgrace" and made the decision to put him on unpaid leave. 

Leavitt also said that she's unaware of any other staffers who have made such trades. 

"The White House has strict ethics guidelines that we expect all staffers and officials to follow," said White House spokesperson Davis Ingle to ABC News.

The CFTC didn't provide a comment to ABC News. 

Investigators Detail the Alleged Trading Activity

ABC News also noted that, per CFTC investigators, Perez placed more than a dozen Trump speech trades over a three-month period, including a speech in December, during his speech at the World Economic Forum in Davos, Switzerland, in January, and during a Medal of Honor ceremony in March. 

In March, the White House warned staff about making such trades using nonpublic information.

Sources told ABC News that Perez "has the final eyes on nearly all of the president's prepared remarks -- and is often known to take last-minute edits from Trump himself."

Trump himself has admitted that he deviates from prepared remarks. 

"You know, when you go up here, you take a big chance, especially me because I go off teleprompter about 80% of the time," Trump said at the Detroit Economic Club, another speech federal investigators believe was among those Perez betted on. 

The investigation also found that Perez would back out of trades mid-speech if Trump didn't use a word or phrase that the trade was made on. 

Now, the CFTC is open to settling with Perez, which includes returning profits and refraining from making similar trades. 

"If you have information by virtue of your job or your employment, something that you have a legal duty surrounding, and you have an obligation not to take that, misappropriate it for yourself," DeNault told ABC News in May.  

Richard Janvrin is a graduate of the University of New Hampshire. He started writing as a teenager before breaking into sports coverage professionally in 2015. From there, he entered the iGaming space in 2018 and has covered numerous aspects, including news, reviews, bonuses/promotions, sweepstakes casinos, legal, and more.

Add as preferred source Casino.com on Google Your #1 casino news source

Stay updated with the latest in Casinos, Gambling & Gaming

Follow Casino.com for breaking news, features, expert guides, responsible gambling advice, legal updates & financial insights.