White House teleprompter operator investigated for insider trading on Trump speech bets

The allegations

Gabriel Perez, a White House teleprompter operator who has worked with Donald Trump since the 2016 campaign, is accused of using his advance access to speech texts to place profitable bets on Kalshi's "mention markets." These contracts allow traders to wager on whether a specific word or phrase will be uttered during a public address. According to sources cited by ABC News and Reuters, Perez bet on more than a dozen presidential speeches between December 2025 and March 2026, including the State of the Union address and Trump's remarks at the World Economic Forum in Davos. The bets allegedly netted him over $90,000, with some reports placing the figure above $100,000. ABC News reported that Perez even adjusted his wagers in real time when Trump deviated from the prepared script, exploiting his unique position as the person operating the teleprompter.

Detection and referral

Kalshi's internal surveillance systems flagged the unusual trading activity in March 2026. The platform froze Perez's account before any profits could be withdrawn, according to a person familiar with the matter. Robert DeNault, Kalshi's head of enforcement, told Reuters: "Our surveillance team promptly flagged and referred these trades to the CFTC after an exchange investigation. We have been assisting regulators on this matter and provided evidence we collected, as we do in any referral." The company also noted that market makers had reported potential irregularities through whistleblower channels, and that it conducted an interview with the trader as part of its probe. Kalshi had already announced in June that it would require employment disclosures for users trading on sensitive contracts and launch a whistleblower portal, steps aimed at bolstering market integrity.

Regulatory and legal fallout

The Commodity Futures Trading Commission (CFTC) is now investigating. A CFTC spokesperson declined to confirm or deny the probe, citing agency policy. Perez is said to be fully cooperating with investigators. Federal prosecutors in Manhattan reviewed the matter but declined to open a criminal case, according to the BBC. The case marks the first known instance of a White House staffer being implicated in insider trading on prediction markets, a sector that has long faced regulatory scrutiny over its vulnerability to manipulation by individuals with non-public information.

White House response

White House Press Secretary Karoline Leavitt addressed the matter at a Thursday briefing, confirming that Perez had been placed on unpaid administrative leave and would no longer work at the White House. She said President Trump was aware of the situation and considered it "deeply unfortunate and frankly a disgrace."

The individual that was cited in that report is complying with the CFTC but has been put on unpaid administrative leave. There will be a teleprompter operator tonight, of course, but it will not be the one unfortunately in that story.

Leavitt added that Trump's scheduled Thursday evening speech on election integrity would proceed with a different teleprompter operator.

Broader market context

Kalshi and rival platforms like Polymarket have battled regulatory headwinds for years. The CFTC has previously expressed concern that event contracts, particularly those tied to speeches, could be exploited by insiders. Kalshi emphasized the broader economic stakes, telling the BBC: "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." The Perez case may intensify calls for stricter oversight of prediction markets, even as the platforms argue that their surveillance tools can catch misconduct.