The Commodity Futures Trading Commission (CFTC) has sanctioned former White House teleprompter operator Gabriel Perez. The person concerned will have to pay $172,539.02 after using non-public information to trade on the Kalshi predictive markets platform, in particular on contracts linked to the interventions of Donald Trump.
In brief
- Gabriel Perez fined $172,539.02 by CFTC for trading on Kalshi
- 39 wins on 43 contracts in the Trump “mention” market
- 3-year trading ban and $107,539.02 disgorgement
An advantage that other traders did not have
Between December 2025 and February 2026, Gabriel Perez worked as a teleprompter operator at the White House. A function which allowed him to have access to the texts of presidential speeches before their broadcast to the public.
According to the CFTC, he took advantage of this position to intervene in contracts offered by Kalshi. These markets notably allowed users to take a position on the words, expressions or formulations likely to be uttered by Donald Trump during his speeches.
For a trader already knowing the content of a speech, the advantage was obviously considerable. While other participants attempted to anticipate the president’s statements based on public information, Perez had a direct view of the text before its release.
According to the CFTC, this situation would have allowed it to carry out operations on the basis of information to which the market did not yet have access. Out of 43 contracts linked to these “mention” markets, he would have recorded 39 gains.
A reduced sanction after his cooperation
The financial sanction consists of two main elements. Gabriel Perez will first have to repay $107,539.02 corresponding to the gains made through these operations.
To this amount is added a civil penalty of $65,000, bringing the total amount to $172,539.02.
However, the CFTC specifies that this sanction takes into account Perez’s cooperation during the investigation. The former White House employee allegedly provided assistance deemed “exemplary” by the regulator, which helped reduce the penalty that might otherwise have been heavier.
Perez also agreed to stop any similar violations in the future. The order also prohibits him from participating in trading for a period of three years.
A strong signal for prediction markets
The deal comes as prediction markets are growing rapidly. Platforms like Kalshi or Polymarket are attracting a growing number of users, with contracts covering politics as well as the economy or sporting events.
The Perez file reminds us, however, that these markets do not constitute an area exempt from the rules on the use of non-public information. As their popularity grows, regulators should pay more attention to people with privileged access to certain information.
The coming months could thus provide more details on the conditions under which institutional or government employees can participate in these markets.
Observers will also monitor developments in the still-pending Van Dyke case, as well as possible new CFTC guidance regarding contracts related to presidential statements and other sensitive events.
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