WASHINGTON, D.C. — The Commodity Futures Trading Commission ordered Gabriel Perez, a former White House teleprompter operator, to pay $172,539.02 and banned him from prediction markets for using nonpublic information from President Trump’s speeches to place profitable bets on Kalshi between December 2025 and February 2026. The agency imposed a three-year ban on Perez from trading on prediction markets as part of the settlement.

Perez placed bets on Kalshi tied to words or phrases President Donald Trump used in speeches between December 2025 and February 2026. Kalshi is an American prediction market platform where contracts predict outcomes such as whether a speaker will use specific terms. Kalshi stated that the words of political leaders like presidents and Fed chairs cause billions of dollars of movement in FX markets, oil futures, and the stock market.

Kalshi’s surveillance analysts detected unusual betting on 'mention markets'—contracts predicting whether a speaker will use specific terms such as countries, campaign slogans, or words—in March 2026. Kalshi’s surveillance investigation detected Perez engaging in prohibited trading activity. The platform froze Perez's account, locking more than $90,000 in profits he made on the platform. Kalshi assisted the CFTC in the investigation of Perez.

"It doesn’t matter who you are: violate our rules or federal law and you will face the consequences," said Bobby DeNault, lead lawyer. The CFTC reduced Perez's civil penalty due to his exemplary cooperation with the investigation. Perez agreed to cease and desist from further violations of federal laws prohibiting market manipulation and CFTC regulations.

Perez made 49 trades and won 39 of them, according to the CFTC. Public records show Perez started as a technical adviser for the White House Office in January 2025. The White House Office is an entity within the Executive Office of the President of the United States.

Perez served as a teleprompter operator for President Donald Trump since 2016. Perez earned an annual salary of $175,000 for his teleprompter work, according to White House personnel records.

Why It Matters

This enforcement action shows the regulatory scrutiny facing prediction markets as they intersect with political access and nonpublic information. The case demonstrates how platforms like Kalshi monitor for unusual activity tied to high-profile events, such as presidential speeches, which can drive movement in financial markets. The involvement of a White House staffer shows the potential for insider advantages in these emerging trading venues.

The penalty and ban serve as a formal response to breaches of trust by government employees with access to sensitive information. While the CFTC emphasized that violators face consequences regardless of identity, the measures may not be sufficient to prevent future misconduct. The case establishes a precedent for how federal regulators will handle insider trading allegations in the context of event-based prediction contracts.

Timeline

Public records show Gabriel Perez started as a technical adviser for the White House Office in January 2025. The White House Management Office issued a directive in March 2025 instructing aides not to place bets on prediction markets using nonpublic information. Gabriel Perez was placed on unpaid leave from the White House in July 2025 during an investigation into his trading activities. White House press secretary Karoline Leavitt stated in July 2025 that Gabriel Perez would no longer be employed at the White House. "The reports of insider trading by Gabriel Perez are deeply unfortunate and, frankly, a disgrace." Kalshi assisted the Commodity Futures Trading Commission in the investigation of Gabriel Perez. Former CFTC commissioner Christy Goldsmith Romero criticized the penalty against Gabriel Perez as a missed opportunity to deter future insider trading. Gabriel Perez agreed to cease and desist from further violations of federal laws prohibiting market manipulation and Commodity Futures Trading Commission regulations.

What's New

Later reporting established that Gabriel Perez served as a teleprompter operator for President Donald Trump since 2016. Gabriel Perez made 49 trades and won 39 of them, according to the Commodity Futures Trading Commission.

Kalshi froze Gabriel Perez's account, locking more than $90,000 in profits he made on the platform. Kalshi’s surveillance investigation detected Gabriel Perez engaging in prohibited trading activity. "It doesn’t matter who you are: violate our rules or federal law and you will face the consequences."

How Sources Differ

Sources differ on the details of Gabriel Perez's profits and violation. A Kalshi spokesperson statement said Kalshi froze Gabriel Perez's account, locking more than $90,000 in profits he made on the platform. The Commodity Futures Trading Commission news release stated that Gabriel Perez exploited material, nonpublic information gathered through his work as a White House teleprompter operator to place wagers on the Kalshi platform for personal benefit.

Sources differ on the assessment of Gabriel Perez's penalty. Christy Goldsmith Romero said former CFTC commissioner Christy Goldsmith Romero criticized the penalty against Gabriel Perez as a missed opportunity to deter future insider trading. The Commodity Futures Trading Commission news release stated the Commodity Futures Trading Commission ordered Gabriel Perez to pay a total of $172,539.02, consisting of $107,539.02 in disgorged profits and a $65,000 civil penalty.

Sources differ on Gabriel Perez's employment termination. White House personnel records stated Gabriel Perez earned an annual salary of $175,000 for his teleprompter work, according to White House personnel records. A White House press briefing stated White House press secretary Karoline Leavitt stated in July 2025 that Gabriel Perez would no longer be employed at the White House.