White House Teleprompter Operator Probed for Insider Trading on Prediction-Market “Mention” Bets

Federal regulators are examining Gabriel Perez, the longtime teleprompter operator for President Donald Trump, for alleged insider trading on the prediction-market platform Kalshi. Kalshi’s surveillance systems flagged “mention market” trades—contracts that pay out if a specific word or phrase appears in a public speech—that appeared to be placed using non-public information about Trump’s prepared remarks. The Commodity Futures Trading Commission (CFTC) has been referred the case, and Perez has been placed on unpaid administrative leave while he cooperates with investigators.

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Prediction markets such as Kalshi and Polymarket allow users to buy “yes/no” contracts tied to future events, including whether a public figure will utter particular words. “Mention markets” have surged in popularity this year, prompting a March 24 White House memo warning that the misuse of non-public government information for financial gain is a criminal offense. Earlier 2026 investigations have targeted a U.S. Army special-forces soldier and a Google software engineer for similar conduct, and former Representative George Santos is under probe for manipulating a Kalshi market.

NPR

• Gabriel Perez – Deputy assistant to the president and technical advisor, responsible for operating Trump’s teleprompter since 2016; annual salary $175,000.

The Sydney Morning Herald

• Kalshi – Prediction-market startup that identified the suspicious activity and referred it to the CFTC.

Reuters

• Commodity Futures Trading Commission – Federal agency that regulates prediction markets and is conducting the investigation.

Reuters

• Karoline Leavitt – White House press secretary, who announced Perez’s leave and described the conduct as “a disgrace.”

The Sydney Morning Herald

• Robert DeNault – Head of enforcement at Kalshi, who described the company’s referral process.

Reuters

• Kalshi froze roughly $90,000 of profits earned by Perez on mention-market trades; other reports cite “nearly $100,000.”

Reuters

• Traders have wagered more than $800,000 on whether Trump will say specific words such as “Hormuz,” “rigged election,” or “fake news” during upcoming speeches.

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• Perez’s 2026 compensation is $175,000, making the alleged gains a modest fraction of his salary.

CNN

Kalshi said its surveillance team “promptly flagged and referred these trades to the CFTC” and that it is “assisting regulators on this matter and provided evidence we collected, as we do in any referral.” The White House confirmed that President Trump is aware of the reports and that Perez “will no longer be working at the White House.” Press secretary Leavitt emphasized that the administration has “extremely strict ethical guidelines” and that, to her knowledge, no other staff members are under investigation. A CFTC spokesperson declined to confirm or deny the investigation.

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Regulators have warned that insider trading on prediction markets could constitute wire fraud, commodities fraud, and money-laundering offenses. Industry observers note that the rapid growth of “mention markets” creates incentives for individuals with privileged access to exploit non-public information, raising broader concerns about market integrity.

NPR

Sources differ on the exact profit amount—one cites “more than $90,000,” another describes “nearly $100,000.” It is also unclear whether the Department of Justice is reviewing the case, as no official comment has been provided.

CNN

• “Our surveillance team promptly flagged and referred these trades to the CFTC, and we are cooperating and assisting regulators,” — Robert DeNault, Head of Enforcement, Kalshi

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• “I have a guy, Gabe. He’s excellent. I’ve had some real bad ones, but I have Gabe.” — President Donald Trump

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• “he believes it’s deeply unfortunate and frankly a disgrace.” — Karoline Leavitt, White House Press Secretary

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• “We have been assisting regulators on this matter and provided evidence we collected, as we do in any referral," said Robert DeNault, who heads enforcement at Kalshi.” — Robert DeNault, Kalshi

NPR

The CFTC’s inquiry remains ongoing, and Perez’s frozen profits may be subject to further legal action depending on the outcome of the investigation.

CNN