A White House teleprompter operator, Gabriel Perez, who had worked at the White House since 2016, is under investigation for allegedly using inside information to place bets totaling nearly $100,000 on the words US President Donald Trump would use during major public addresses, including the State of the Union speech.

Perez reportedly placed these bets on Kalshi, a prediction markets platform where users wager on real-world events. Kalshi's analysts detected unusual betting activity on "mention markets," which are contracts predicting whether a speaker will use specific common terms such as countries, economic words, or campaign slogans.

Kalshi froze Perez's account and more than $90,000 in funds before any profits could be withdrawn. Robert DeNault, Kalshi's head of enforcement, stated that the firm flagged the trades and provided evidence to regulators. The platform confirmed it reported the activity to the Commodity Futures Trading Commission (CFTC), which oversees Kalshi.

White House press secretary Karoline Leavitt said President Trump was aware of the teleprompter operator and that Perez is now on unpaid leave and will no longer work at the White House.

Kalshi noted, "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," highlighting the financial impact of such speeches.

Sources indicate federal prosecutors in Manhattan declined to open a criminal case, and the CFTC has not confirmed whether it is investigating.

Sources