A former White House teleprompter operator, Gabriel Perez, has reached a settlement with the Commodity Futures Trading Commission (CFTC) following allegations that he used nonpublic information to place bets on a prediction market. The CFTC announced the settlement on Friday, requiring Perez to forfeit $107,500 in profits and pay a $65,000 civil penalty. Additionally, Perez is prohibited from trading on any CFTC-regulated markets for three years.
The action follows an investigation into Perez's activities on Kalshi, a platform where users trade on the outcomes of future events. According to the CFTC, Perez utilized his access to presidential speeches before they were delivered to bet on specific words and phrases President Trump would use. The commission stated that this conduct constituted a misappropriation of information in breach of his duty of trust and confidence.
The trades in question occurred between December 2025 and February 2026. Kalshi reported that its surveillance systems detected trading patterns that did not align with typical market activity, leading the company to freeze Perez's account and lock more than $90,000 in profits. The company subsequently referred the case to the CFTC and worked with the agency for several months.
Perez served in the Trump administration during both the president's first and second terms, holding roles as a teleprompter operator and technical adviser. While the White House did not provide an official comment on the settlement, an official confirmed in July that Perez was no longer in his position. He had previously been placed on unpaid leave after the betting activity was discovered. White House press secretary Karoline Leavitt described the situation on July 16 as "unfortunate" and "a disgrace."
This enforcement action follows a March letter from the White House Management Office that warned staff against using nonpublic information for bets on prediction markets. The CFTC noted that Perez's fine was reduced due to his "exemplary cooperation." The immediate next step for Perez is the payment of the ordered amounts and the commencement of his three-year exclusion from regulated trading markets.