Trump teleprompter operator probed over Kalshi bets

Q: Who is Gabriel Perez?

Gabriel Perez is a longtime teleprompter operator who has worked with President Donald Trump since 2016 and is among the few people who see the president's speeches before public appearances. He has been suspended by the White House and banned from Kalshi.

Q: What are Kalshi 'Mention Markets'?

Kalshi 'Mention Markets' let users wager on whether the president will use specific words or expressions during public events, and odds can swing sharply because of Trump's unpredictable speaking style.

Q: Why is the CFTC investigating the White House teleprompter operator?

The Commodity Futures Trading Commission is examining whether Perez used non-public information about Trump's speeches to place bets on Kalshi, which could be prosecuted as wire fraud, commodities fraud, or money laundering.

Washington, 16 July 2026 Federal regulators are in settlement talks with Gabriel Perez, President Donald Trump's longtime teleprompter operator, over allegations that he used non-public information about the president's speeches to make roughly $90,000 in profits on the prediction-market platform Kalshi. ## How Kalshi flagged the trades Perez, who has worked with Trump since 2016 and is among the few people who see the president's speeches before public appearances, is negotiating with the Commodity Futures Trading Commission over his alleged betting activity on Kalshi's so-called "Mention Markets," according to two people familiar with the matter who were not authorized to speak publicly. A CFTC spokesperson told CNN that the agency could "eine Untersuchung weder bestätigen noch dementieren." It remains unclear whether the Department of Justice is examining the case. Kalshi suspended Perez from the platform and froze about $90,000 of his profits after the company's surveillance systems flagged unusual betting patterns that did not match typical user behavior. Robert DeNault, head of enforcement at Kalshi, said the company referred the trades to the CFTC. "Our surveillance team promptly flagged and referred these trades to the CFTC after an exchange investigation," DeNault said. "We have been assisting regulators on this matter and provided evidence we collected, as we do in any referral." ## What are 'Mention Markets'? ABC News first reported on the investigation. According to ABC News, investigators found that in some cases Perez withdrew ongoing bets during a speech when Trump skipped a section containing a word Perez had previously wagered on, suggesting the operator was reacting in real time to information not available to other traders. "Nach Angaben der Quellen stellten die Ermittler in einigen Fällen fest, dass Perez laufende Wetten noch während einer Rede zurückzog, wenn Trump einen Abschnitt übersprang, in dem ein Wort vorkommen sollte, auf dessen Erwähnung Perez zuvor gesetzt hatte," ABC News reported. Mention Markets allow users to wager on whether the president will use specific words or expressions during public events. The category has grown rapidly in part because Trump's unpredictable speaking style causes odds to swing sharply, creating opportunities for traders with advance knowledge. Kalshi traders wagered more than $800,000 ahead of a recent Trump address to the nation on words including "Hormuz," "rigged election," and "fake news." Some traders have installed TV antennas to gain a fraction-of-a-second advantage during live events. The case marks the first time someone inside the White House has been investigated for allegedly abusing access to prediction-market profits. A source familiar with the matter said Perez is fully cooperating with the investigation. Gabriel Perez did not return a request for comment. The White House announced his suspension on Friday, and Press Secretary Karoline Leavitt later said the teleprompter operator would no longer be working at the White House. ## Broader enforcement push Leavitt said the operator was placed on unpaid administrative leave on the orders of the president. The probe comes against the backdrop of a March White House memo to staff warning that using non-public government information to place bets on Kalshi and Polymarket "is a very serious offence and will not be tolerated." The memo also stated that it is a criminal offense for anyone inside the White House to "buy" or "sell" on those platforms. Kalshi's platform rules prohibit using non-public information to win or manipulate markets, and using such information could be criminally prosecuted as wire fraud, commodities fraud, and money laundering. Federal prosecutors charged a Google software engineer in a separate case with using confidential company information to make $1.2 million on Polymarket by correctly guessing Google search trends. In April, federal prosecutors also charged a U.S. Army special forces soldier with making $400,000 on Polymarket ahead of the capture of Venezuelan leader Nicolás Maduro. ## Why the case matters Former Republican congressman George Santos is separately under investigation for allegedly pumping up a Kalshi market by claiming he would attend Trump's 2026 State of the Union address, then cashing out on a "no" trade when he skipped it. The Perez case is the first to focus on a White House insider, and its outcome is being closely watched by prediction-market operators and federal prosecutors alike as regulators test how insider-trading statutes apply to event-contract betting. Prediction markets have grown to allow bets not only on elections and global policy but also on granular events such as what color tie the president will wear. The combination of those markets with the federal government's heightened enforcement posture, signaled by the recent criminal cases on Polymarket and the March White House memo, has raised the stakes for anyone with advance knowledge of political events.

Federal regulators probe Trump teleprompter operator over alleged Kalshi prediction-market profits

How Kalshi flagged the trades

What are 'Mention Markets'?

Broader enforcement push

Why the case matters

Questions & Answers