Washington — The Trump administration announced Friday that Gabriel Perez, the president’s teleprompter operator for more than a decade, will pay a $65,000 civil fine and forfeit $107,000 in earnings after the Commodity Futures Trading Commission (CFTC) concluded he traded on prediction‑market platforms using nonpublic information about the president’s speeches.
Violation of trust and cooperation earns reduced penalty
The CFTC said Perez “owed a duty of trust and confidentiality to the U.S. government” and breached that duty by placing 49 trades on Kalshi’s “mention markets,” winning 39 of them. Those markets let participants bet on the exact words a public figure will say at an event. Perez’s trades covered the State of the Union, the National Prayer Breakfast, a Medal of Honor ceremony and several campaign rallies.
Although the agency noted the seriousness of the misconduct, it granted a reduced fine because Perez provided “exemplary cooperation” during the investigation. Kalshi, the prediction‑market operator, also imposed a three‑year ban on Perez and reported the prohibited activity to regulators.
Trump administration’s response
President Trump called the conduct “frankly a disgrace” when it first came to light and placed Perez on unpaid leave while the probe proceeded. The White House has not issued a new comment since the settlement was announced.
Michael Selig, the Trump‑appointed CFTC chairman, has long championed the prediction‑market industry but stressed that insider trading will not be tolerated. “We will enforce the rules fairly and protect the integrity of these markets,” Selig said in a statement.
Broader context
This is the first known case of a White House employee using privileged speech information for personal profit on a prediction platform. Former CFTC commissioner Christy Goldsmith Romero, a Biden appointee, criticized the modest penalty, arguing that a stronger sanction would better deter future abuse.
Kalshi’s head of enforcement, Bobby DeNault, reminded market participants that “it doesn’t matter who you are: violate our rules or federal law and you will face the consequences.”
The settlement underscores the administration’s commitment to uphold ethical standards while continuing to support innovative financial tools that can benefit American investors.
Original reporting: El Paso News (HLL/CB) — read the source article.
