A former White House teleprompter operator has been fined $172,000 for using insider information to place bets on Donald Trump’s speeches on the Kalshi prediction market platform.
Gabriel Perez worked as a teleprompter operator at the White House from December 2025 to February 2026. During this time, he accessed nonpublic information about the content of President Trump’s speeches before they were delivered. Perez then used this material, nonpublic information to place wagers on Kalshi, an online prediction market, betting on specific words or phrases Trump would say during major addresses, including the State of the Union.
The Commodity Futures Trading Commission (CFTC) found that Perez’s actions violated federal laws prohibiting market manipulation. The agency stated that he misappropriated that information and breached his duty of trust and confidence by exploiting his position for personal gain. The CFTC ordered Perez to disgorge the profits he made from his unlawful [conduct], totaling $107,539.02, and pay a civil penalty of $65,000. In addition, Perez agreed to cease and desist from further violations and faces a three-year ban from trading on regulated markets.
Perez’s departure from the White House came amid an investigation into his betting activities. It remains unclear whether he resigned or was dismissed. At the time, White House press secretary Karoline Leavitt called the reports of insider trading deeply unfortunate and, frankly, a disgrace. Perez earned an annual salary of $175,000 for his teleprompter duties, according to personnel records.
This case highlights the risks prediction markets face regarding insider trading and market manipulation. Platforms like Kalshi allow users to place bets on public events, including political speeches, but insider access can distort market fairness and harm consumers relying on transparent conditions. The CFTC’s enforcement action demonstrates regulators’ commitment to maintaining integrity in these emerging markets.
Prediction markets have grown in popularity but continue to face legal scrutiny. Kalshi has been involved in other regulatory challenges, such as fines against political candidates who bet on their own elections. For example, in April 2026, Kalshi fined three candidates for wagering on their political outcomes, including one who bet on whether he would run for a US Senate seat in Virginia before announcing his campaign.
Similar cases have emerged on rival platforms. In April 2026, federal prosecutors indicted US soldier Gannon Ken Van Dyke for allegedly placing a $400,000 bet on Polymarket about the removal of Venezuela’s president Nicolás Maduro. Van Dyke had insider knowledge from his involvement in the operation to extradite Maduro on drug-trafficking charges.
Players and bettors should exercise caution when engaging with prediction markets, especially those involving political or sensitive events. Insider trading risks can affect market odds and fairness, potentially causing harm to consumers. Staying informed about regulatory developments and platform rules can help bettors make safer choices.
For further information on prediction market regulations and player protections, visit the USA category and Betting category on GamblingNews.today.
Additional coverage on Kalshi’s legal challenges and prediction market developments is available from CDC Gaming and iGaming Business.
Read the full CFTC release and The Guardian report for more details: The Guardian.
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