CFTC fines former White House aide $172,000 for trading on Trump speech information
The U.S. Commodity Futures Trading Commission (CFTC) recently levied a significant fine against former White House aide Gabriel Perez, totaling $172,539. This punishment stemmed from Perez's use of advance access to President Donald Trump's speeches to make illicit trades on a prediction-market platform. As part of the settlement, Perez is required to repay $107,539.02 in profits earned through these illegal activities.
Additionally, he faces a $65,000 civil penalty, which represents a substantial discount due to his exemplary cooperation with the investigation. Perez was also banned from trading for three years and prohibited from engaging in further violations of the Commodity Exchange Act and CFTC regulations. He was put on unpaid leave and no longer holds a position with the federal government.
According to the CFTC, Perez gained nonpublic information from Trump's speeches before they were delivered and used that data for personal financial gain. The agency also commended KalshiEX for their assistance in resolving the matter.
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