Ex-White House Teleprompter Operator Fined for Prediction Market Insider Trading

Gabriel Perez, a former White House teleprompter operator, has been fined for using inside information to bet on Donald Trump's speeches. He accessed Trump's speeches before they were delivered and used this information to make trades on a prediction markets platform called Kalshi. Perez profited more than $107,539.02 from these trades.

The Commodity Futures Trading Commission (CFTC) found that Perez had "misappropriated" his prior knowledge of Trump's speeches to place bets, breaching his duty of trust and confidence. As a result, Perez was ordered to pay a civil penalty of $65,000 and surrender his profits. According to MyJoyOnline Ghana, he was also banned from trading for three years.

The CFTC noted that Perez's civil penalty was reduced due to his "exemplary co-operation" with the investigation. Kalshi's lead lawyer welcomed the decision, stating that it demonstrates that violating rules or federal law will result in consequences, regardless of who is involved.

Brief written by urgent.news from Decrypt, MyJoyOnline Ghana — 2 reports on this story. Machine-written — may contain errors; check the original before relying on it.