CFTC enforcement action against Gabriel Perez has ended with the former White House teleprompter operator agreeing to pay more than $172,000 over trades tied to President Donald Trump’s speeches.
Perez, who operated Trump’s teleprompter for nearly a decade, was accused of using advance access to prepared remarks to place wagers on Kalshi mention markets. The contracts allowed traders to bet on whether Trump would use particular words or phrases during public appearances. The case comes as prediction markets expand rapidly.
CFTC Details Perez Trading Activity
The CFTC said Perez made 49 trades between December 2025 and February 2026 and won 39 of them. His profits exceeded $107,000, according to the regulator.
The trades involved events including the State of the Union, the National Prayer Breakfast, a Medal of Honor ceremony and several rallies. Investigators said Perez often reviewed Trump’s remarks shortly before delivery and used the confidential text for “his own personal, financial benefit.”
Perez was ordered to surrender $107,539.02 in trading profits and pay a $65,000 civil penalty. Kalshi separately banned him from trading on the platform for three years.
The CFTC said the penalty was reduced because Perez provided “exemplary co-operation.” Regulators said he voluntarily acknowledged during an interview that his trading decisions were based on confidential information obtained while reviewing speeches.
Kalshi Surveillance Flagged Suspicious Bets
Kalshi’s surveillance team identified unusual activity in Trump-related mention markets and traced the account to a federal employee responsible for White House teleprompters. The company then referred the matter to the CFTC.
Bobby DeNault, Kalshi’s head of enforcement, said on X that anyone who breaks company rules or federal law would “face the consequences.”
Perez had worked for Trump since the 2016 campaign and earned $175,000 annually as a deputy assistant to the president. He was placed on unpaid leave in July, and then-press secretary Karoline Leavitt called the conduct “a disgrace.” Perez was reportedly no longer employed by the federal government by late July.
Prediction Market Enforcement Expands
Christy Goldsmith Romero, a former CFTC commissioner appointed under President Joe Biden, said the regulator missed an opportunity to “send a strong message” to future insider traders.
The CFTC also settled with former Republican Representative George Santos in August over a Kalshi contract involving whether he would attend the State of the Union.
Federal prosecutors have separately charged an Army soldier over Polymarket bets connected to the capture of Venezuelan leader Nicolás Maduro. A Google engineer was also charged after making about $1.2 million from trades based on internal search data.
CFTC Chairman Michael Selig, a Trump appointee, has supported the prediction-market industry while pledging to enforce rules against insider trading.
