White House Staffer accused of using speech secrets to make $100,000 in bets
A White House teleprompter operator is under investigation over allegations that he used confidential information to place bets on the content of President Donald Trump’s speeches, reportedly earning close to $100,000.
Gabriel Perez, who has worked at the White House since 2016, is accused of wagering on specific words President Trump would use during major public addresses, including the State of the Union speech.
The bets were placed through Kalshi, a prediction market platform that allows users to trade on the outcomes of real-world events. The company said it detected the suspicious activity and reported it to the Commodity Futures Trading Commission (CFTC), the federal agency that regulates the platform.
According to reports, Kalshi froze Perez’s account before he was able to withdraw any of the alleged profits.
The company told the BBC that its analysts identified unusual activity in its “mention markets” in March, where participants bet on whether public figures will use particular words or phrases during speeches.
Kalshi noted that statements made by political leaders, including the U.S. president and Federal Reserve officials, can significantly influence financial markets such as foreign exchange, oil futures and stocks.
After reviewing account information, the company said it identified the user as a federal employee responsible for operating White House teleprompters and subsequently froze more than $90,000 in funds.
Kalshi’s Head of Enforcement, Robert DeNault, said the company referred the matter to regulators after identifying the suspicious trades.
White House Press Secretary Karoline Leavitt said President Trump had been informed of the allegations. She added that Perez had been placed on unpaid leave and would no longer be employed at the White House.
The case was first reported by ABC News and later confirmed by the BBC’s U.S. partner, CBS News.
Sources familiar with the matter said Perez has fully cooperated with the CFTC’s inquiries.
ABC News also reported that federal prosecutors in Manhattan declined to pursue criminal charges.
When asked about the matter, the CFTC said it could neither confirm nor deny whether an investigation is underway.
Source: BBC
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