President Donald Trump’s teleprompter operator, who has worked alongside the President since 2016, is under investigation for allegedly winning more than $100,000 at Kalshi in mention prediction markets.
Gabriel Perez is believed to be negotiating with the Commodity Futures Trading Commission (CFTC) a resolution to a case of using privileged information to profit in prediction markets. Multiple authorities have reported that he used his access to Trump’s speech scripts to purchase contracts corresponding with the words he was expected to mention.
Trump aide illegally traded prediction contracts
Perez, a Deputy Assistant to the President, received a promotion from his “Special Assistant” status during Trump’s first stint in the White House. He receives a $175,000 annual salary.
Federal investigators with the CFTC first revealed the accusations against Perez, whose position allowed him to read Trump’s speeches shortly before they were delivered. He was also privy to last-second write-ins made by Trump himself.
A White House spokesperson confirmed with news outlets that Perez was discussing a resolution with investigators.
“The White House has strict ethics guidelines that we expect all staffers and officials to follow,” White House spokesperson Davis Ingle added after being reached by ABC News. “The staffer in question is fully cooperating with the CFTC.”
What did Perez do wrong?
According to an ABC News source, Kalshi alerted the CFTC of suspicious trading patterns after its monitoring program set off internal alarm bells. An account traced to Perez was flagged for its activity in “Mention” markets, which settle based on whether an individual says specific terms during a speech, game, or event.
President Trump was the subject of a slew of mention markets during his appearances over the years. But according to investigators, Perez’s activity only recently warranted recognition.
Perez allegedly purchased more than a dozen contracts in prediction markets associated with Trump speeches from December 2025 through March 2026, including those at the World Economic Forum in Switzerland, the State of the Union, and a Medal of Honor ceremony.
An ABC News source claimed that the White House sent an internal memo warning its staff about using privileged information to profit at prediction markets shortly after the Medal of Honor ceremony.
No criminal sanctions expected
In addition to finding evidence of Perez’s trading activity, investigators uncovered instances in which he backed out of his contracts — that is, sold his positions live — during Trump’s speeches after he skipped a section in which he was supposed to mention a particular word or phrase.
An anonymous source told ABC News that Manhattan federal prosecutors declined to open a criminal investigation into Perez after they were informed of his actions. The CFTC also supposedly said it was willing to reach a non-criminal settlement with Perez, which would involve him replenishing Kalshi with the money he won and promising not to engage in a similar pattern of trading activity.
This case, although different, is reminiscent of one involving ex-Congressman George Santos. The exiled politician claimed in an X (Twitter) post he would attend President Trump’s State of the Union address in February, only for him not to show up after supposed logistical issues with the airlines. Reports later emerged that Santos allegedly won money by predicting his own absence from the event at Kalshi.
Santos fervently denied any wrongdoing.
The Trade Handle Prediction Markets Take
Insider trading is already illegal and banned by operators of prediction markets, such as Kalshi, Polymarket, and Robinhood. This case highlights the importance of platforms’ integrity monitoring services, although it also marks another situation in which a person with privileged information attempted to engage in illicit behavior.