RESOLVING THE LEDGER
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A former White House teleprompter operator accused of using inside knowledge to make bets on the prediction market Kalshi has been ordered to turn over more than $100,000 in profits and pay a $65,000 fine as part of a settlement with federal authorities.
The settlement with the Commodity Futures Trading Commission, announced Friday, also dealt Gabriel Perez a three-year trading ban. Perez was placed on unpaid leave from his job at the White House after reports emerged that he used his position to make bets on what President Donald Trump would say in speeches.
The White House did not immediately comment on the settlement. A White House official said in July that Perez was no longer in his position but did not say if he had been fired or resigned.
The commission found that Perez made $107,500 on prediction markets by betting on words and phrases that would appear in Trump’s speeches between December 2025 and February 2026.
“In his position, Perez had access to presidential speeches prior to those speeches being delivered and Perez misappropriated that information — in breach of his duty of trust and confidence,” according to a release from the commission.
Perez was ordered to repay his profits in full, along with the $65,000 civil penalty, which the commission said was a reduction because of his “exemplary cooperation.”
As details emerged July 16, White House press secretary Karoline Leavitt said it was “unfortunate” and “a disgrace.”
This story was originally featured on Fortune.com
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