A former White House teleprompter operator has agreed to forfeit more than $100,000 in trading profits and pay a $65,000 civil penalty over bets placed on the words President Donald Trump would use in speeches, the Commodity Futures Trading Commission announced on Friday.
The settlement with Gabriel Perez also carries a three-year trading ban. The commission found that Perez earned $107,500 on the prediction market Kalshi by wagering on specific words and phrases that would appear in Trump’s public remarks between December 2025 and February 2026.
In his role, Perez had access to presidential speeches before their delivery. The commission said he “misappropriated that information — in breach of his duty of trust and confidence.” The $65,000 penalty was reduced in recognition of what regulators described as his “exemplary cooperation.”
Perez was placed on unpaid leave after reports of the betting emerged. A White House official said in July that he was no longer in his position but did not confirm whether he had been fired or had resigned. Press secretary Karoline Leavitt called the matter “unfortunate” and “a disgrace” as details surfaced on July 16.
Kalshi allows users to buy and sell contracts tied to the outcomes of future events, including political developments. The exchange has drawn regulatory attention before. The CFTC dropped an appeal last year that had sought to block the platform’s election betting contracts, clearing the way for wagers on political events.
The Perez case is not the first involving alleged misuse of information on the platform. In a separate action, former congressman George Santos settled a federal probe for $35,000 over trades regulators deemed manipulative.
The commission said Perez was ordered to repay his profits in full alongside the penalty. The White House did not immediately comment on the settlement. The three-year trading ban takes effect under the terms of the agreement.