Kalshi Accuses Trump’s Teleprompter Operator of Insider Trading

Insider Trading Allegations

Federal investigators believe that Gabriel Perez, who has been President Donald Trump’s teleprompter operator since 2016, used inside information to place bets on Kalshi, a major prediction market platform, according to ABC News. Kalshi offers "mentions" markets where users bet on what individuals will say during high-profile events.

Perez’s Activities

Perez is accused of betting on what Trump would say during more than a dozen events, including the February State of the Union address, a Medal of Honor ceremony, and remarks at the World Economic Forum. In total, he reportedly won over $100,000. Trump was scheduled to give another speech Thursday night, reportedly on election integrity, and Kalshi had multiple markets listed for that event.

Platform Response

Robert DeNault, Kalshi’s head of enforcement, said in a statement to The Verge: "Our surveillance team promptly flagged and referred these trades to the Commodity Futures Trading Commission after an exchange investigation. We have charged this individual and have been assisting regulators on this matter and provided evidence we collected." Kalshi did not respond to questions about whether other bettors would get their money back.

Investigation Status

Zach Fulton, a CFTC spokesperson, said the agency could neither confirm nor deny an investigation. According to ABC News, the CFTC and Perez have discussed a settlement requiring Perez to return his winnings and refrain from similar trades in the future. Federal prosecutors declined to open a criminal investigation.

New Rules

Last month, Kalshi implemented rules requiring users to disclose employment information before betting on markets with heightened insider or manipulation risk. This case highlights ongoing concerns about insider trading in prediction markets, which have surged in popularity.