A White House aide is out after allegedly using advance knowledge of Trump’s speeches to place profitable Kalshi bets.
Gabriel Perez, who has worked as President Donald Trump’s teleprompter operator for many years now, is no longer working for the federal government after allegations that he used his prior knowledge about presidential addresses in making lucrative bets at Kalshi.
A White House official confirmed Perez’s departure to the Associated Press but wouldn’t say whether he resigned or was fired. He had been placed on unpaid leave earlier in July.
According to allegations, Perez made over $100,000 by placing bets on the words or topics that Trump would mention or address, such as his State of the Union address in February. Perez was one of those people who had prior access to the speech before it was made public.
White House press secretary Karoline Leavitt previously called the reported conduct “deeply unfortunate and, frankly, a disgrace.”
Kalshi Referred Trades to Regulators
The bets were placed through Kalshi’s “Mentions” markets, where users trade contracts tied to whether a public figure will use a particular word or phrase.
Robert DeNault, Kalshi’s head of enforcement, said on X its surveillance team flagged the trades, investigated them and referred the case to the Commodity Futures Trading Commission, though his statement didn’t publicly identify Perez.
Reuters reported that Kalshi froze the account before more than $90,000 in profits could be withdrawn. The CFTC hasn’t announced any charges or settlement, and Perez has not been publicly found to have violated the law.
Kalshi forbids its users from making transactions relying on the crucial non-public information gained from their occupation. The company also recently began collecting employment details before allowing users into markets considered especially vulnerable to insider trading.
Read more: Prediction Markets Platform Kalshi Tightens KYC for High-Risk Markets
