Full Breakdown
Teleprompter Operator Accused of Insider Betting on President Trump’s Speeches
7/16/2026, 9:00:42 PM
Core Event: Alleged Insider Trading on a Prediction Market
Federal investigators with the Commodity Futures Trading Commission (CFTC) have identified Gabriel Perez, the longtime teleprompter operator for President Donald Trump, as having placed more than a dozen bets on the prediction-market platform Kalshi. The trades, made between December 2025 and March 2026, targeted the “Mentions” market, where users wager on whether specific words or topics appear in a public address. Sources say Perez profited by over $100,000 by using advance copies of Trump’s speeches, including the State of the Union, a primetime address, a World Economic Forum talk, and remarks at a Medal of Honor ceremony.
Background & Context: Prediction Markets and Prior Insider Cases
Kalshi, a regulated U.S. prediction-market exchange, flagged the activity to the CFTC, prompting a surveillance review. The platform recently revised its policy to require users to disclose employment that could provide non-public information. In May 2024, the Department of Justice brought the first two insider-trading prosecutions involving prediction markets: a special-forces soldier who bet on the capture of Venezuelan President Nicolás Maduro and a Google employee who wagered on internal search-trend data. Both defendants pleaded not guilty.
Key Figures
- Gabriel Perez – Technical assistant and teleprompter operator for President Trump since 2016.
- Donald Trump – President of the United States, whose speeches were the subject of the bets.
- Bobby DeNault – Lead lawyer for Kalshi, commenting on the firm’s surveillance and policy.
- Davis Ingle – White House spokesperson on ethics compliance.
- Stephen Miller – White House policy advisor who worked with Perez on speech preparation.
Data & Statistics
- Profit from Kalshi bets: more than $100,000.
- Number of speeches bet on: over a dozen within a three-month window.
- Types of speeches: State of the Union, December primetime address, January World Economic Forum address, March Medal of Honor ceremony, and others.
- Kalshi’s “Mentions” market tracks specific words or phrases spoken during live events.
Official Statements & Responses
Kalshi’s legal team said its surveillance unit promptly reported the suspicious trades to the CFTC and is cooperating with regulators. The White House reiterated that staff must follow strict ethics guidelines and confirmed that Perez is cooperating with the CFTC. The CFTC declined to comment on the investigation. Federal prosecutors in Manhattan were alerted but chose not to open a criminal investigation, while regulators indicated a willingness to settle with Perez, potentially requiring repayment of profits and a ban on future trades.
Criticism & Opposition
Legal experts have warned that using non-public speech drafts for market wagers may violate insider-trading statutes, emphasizing the need for clear enforcement to preserve market integrity. Advocacy groups argue that the incident underscores gaps in existing ethics training for senior staff. Critics also note that President Trump has previously expressed ambivalence toward prediction markets, calling them a “casino” while supporting their continued operation.
Conflicting Reports & Gaps
Sources differ on whether criminal charges will ultimately be filed; the CFTC has not disclosed settlement terms, and the exact timeline for any repayment remains unspecified. While prosecutors declined a criminal probe, the possibility of future civil enforcement has not been ruled out.
Verbatim Quotes
- “Our surveillance team promptly flagged and referred these trades to the CFTC, and we are cooperating and assisting regulators,” — Bobby DeNault, Lead Lawyer, Kalshi
- “The White House has strict ethics guidelines that we expect all staffers and officials to follow,” — Davis Ingle, White House Spokesperson
- “If you have information by virtue of your job or your employment, something that you have a legal duty surrounding, and you have an obligation not to take that, misappropriate it for yourself,” — Bobby DeNault, Kalshi
- “You know, when you go up here, you take a big chance, especially me because I go off teleprompter about 80% of the time,” — Donald Trump
- “Well the whole world, unfortunately, has become somewhat of a casino, and you look at what's going on all over the world in Europe and every place they're doing these betting things. I was never much in favor of it. I don't like it conceptually, but it is what it is,” — Donald Trump
What’s Next
Trump Media and Technology Group announced in October 2025 that it is exploring the launch of its own prediction-market offering, a development that may attract additional regulatory scrutiny as the Perez case proceeds.
