A teleprompter operator for former President Donald Trump has been ordered to pay $172,000 after making trades based on nonpublic information from upcoming speeches. The Commodity Futures Trading Commission (CFTC) announced the decision on Friday.
Gabriel Perez used confidential information from his role to engage in prediction market trades. According to the CFTC, Perez earned $107,539.02 in profits from these activities and is required to repay this amount. Additionally, he faces a civil penalty of $65,000 and is prohibited from trading on prediction markets for three years.
Perez conducted these trades through Kalshi. The company played a pivotal role in identifying his activities. Bobby DeNault, Kalshi’s lead lawyer, emphasized the enforcement of rules, stating, “It doesn’t matter who you are: violate our rules or federal law and you will face the consequences.”
The White House did not provide a comment on the situation, and Perez was unreachable for comment. The trades involved “presidential mention market contracts,” which are contracts related to potential words or phrases the President might use in speeches. Perez had been a teleprompter operator since 2016.
While announcing the penalties, the CFTC acknowledged Perez’s cooperation during the investigation. Earlier, then-White House press secretary Karoline Leavitt criticized the trades as unethical and placed Perez on leave, stating that he would no longer be part of the administration.
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