Ex-White House operator fined over Trump speech bets
SCMP · 2 SOURCESabout 2 hours ago2 MIN
Summary
A former White House teleprompter operator, Gabriel Perez, has settled with the US Commodity Futures Trading Commission after being accused of using advance access to President Donald Trump’s speeches to place bets on Kalshi prediction markets . Under the settlement announced on Friday, Perez must surrender US$107,500 in profits, pay a US$65,000 civil penalty and accept a three-year trading ban . Regulators said the trades took place between December 2025 and February 2026 while Perez was still working at the White House . The White House did not immediately comment on the settlement, though an official said in July that Perez was no longer in his post .
Key Points
- The Commodity Futures Trading Commission said Perez traded presidential “mention market” contracts on Kalshi while employed as a White House teleprompter operator .
- Those contracts paid out based on whether Trump used specific words or phrases in speeches, giving advance script access unusual market value .
- Federal regulators said Perez made US$107,500 from the trades between December 2025 and February 2026 before the conduct became public .
- The settlement requires full repayment of profits, a US$65,000 civil fine and a three-year ban on trading, announced Friday .
- The commission said the fine was reduced because Perez provided “exemplary cooperation”, while press secretary Karoline Leavitt called the episode “unfortunate” and “a disgrace” in July .
Why It Matters
For Hong Kong readers following the growth of event-based trading and prediction platforms, the case shows how non-public political information can become monetisable market intelligence when contracts are tied to speeches or public statements . It also underlines that regulators may treat misuse of privileged access in newer markets much like insider dealing in more traditional financial settings .