Former White House staffer fined $172,000 for betting on Trump's speeches
US regulators fined a former White House teleprompter operator more than $172,000 after he used advance access to President Trump's speech texts to place bets on a prediction platform. He must repay his profits, pay a civil penalty, and is barred from trading for three years.
The US Commodity Futures Trading Commission (CFTC) has fined Gabriel Peres, a former White House teleprompter operator, $172,539 for misusing confidential information, British outlet The Guardian reports.
Access to speech drafts used for betting
As part of his job duties, Peres had access to drafts of President Donald Trump's speeches before they were delivered publicly. The commission's investigation found that he used this advantage to place bets on the prediction trading platform Kalshi, wagering on which specific words and phrases Trump would use in his addresses.
Over $107,000 in improper profit
The CFTC determined that Peres earned more than $107,000 through this scheme. He is now required to repay that full amount. In addition, the commission imposed a $65,000 civil penalty and barred Peres from trading on CFTC-regulated markets for three years.
The case highlights the risks posed by insider access among staff working close to senior officials, particularly as prediction and betting platforms allowing wagers on political events and details of public appearances grow in popularity.
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