A former White House teleprompter operator accused of using inside knowledge to make bets on the prediction market Kalshi has been ordered to turn over more than $100,000 in profits and pay a $65,000 fine as part of a settlement with federal authorities.
The settlement with the Commodity Futures Trading Commission, announced Friday, also dealt Gabriel Perez a three-year trading ban. Perez was placed on unpaid leave from his job at the White House after it was determined he used his position to make bets on what President Trump would say in speeches, two sources familiar with the matter told CBS News last month.
The White House did not immediately comment on the settlement. A White House official said in July that Perez was no longer in his position but did not say if he had been fired or resigned.
The commission found that Perez made $107,500 on prediction markets by betting on words and phrases that would appear in Mr. Trump’s speeches between December 2025 and February 2026.
“In his position, Perez had access to presidential speeches prior to those speeches being delivered and Perez misappropriated that information — in breach of his duty of trust and confidence,” according to a release from the commission.
Perez was ordered to repay his profits in full, along with the $65,000 civil penalty, which the commission said was a reduction because of his “exemplary cooperation.”
Back in March, the White House Management Office sent a letter to White House aides telling them not to place bets on prediction markets with nonpublic information, multiple administration officials told CBS News in April.
A Kalshi spokesperson told CBS News in July that the company investigated Perez’s trading activity after its surveillance systems detected trades that didn’t adhere to typical buying and selling patterns. Kalshi froze Perez’s account, locking more than $90,000 in profits he made on the platform, the spokesperson confirmed.Â
After completing its investigation, Kalshi referred the case to the CFTC. The Kalshi spokesperson said the company has been working with the CFTC for months.
Public records on LegiStorm, a database with biographical information on government staffers, show Perez worked for the Trump administration during the president’s first and second terms, during which he’s held roles as a technical adviser and teleprompter operator. In January 2025, he started as a technical adviser for the White House Office, records show.
As details emerged July 16, White House press secretary Karoline Leavitt said it was “unfortunate” and “a disgrace.”
