WASHINGTON – Recently, a significant story emerged about a teleprompter operator at the White House named Gabriel Perez. Reports surfaced that he had been using his insider knowledge about President Donald Trump’s speeches to place bets on an online prediction market called Kalshi. This led to some serious consequences for Perez.
After these revelations, Perez was placed on unpaid leave, and it was confirmed that he is no longer working for the federal government. A White House official, who preferred to remain anonymous, stated that they could not disclose whether Perez resigned or was fired.
Earlier this month, the White House acknowledged that Perez had made over $100,000 by betting on what the president would say in major speeches, including the State of the Union address. White House press secretary Karoline Leavitt described his actions as “deeply unfortunate and, frankly, a disgrace.” This highlights the ethical concerns surrounding individuals using their positions for personal gain.
Robert Denault, the lawyer for Kalshi, addressed the situation on social media, stating that the Kalshi surveillance team promptly flagged and investigated Perez’s trades. They referred the matter to the U.S. Commodity Futures Trading Commission, the regulatory body overseeing such activities. However, Denault did not specifically name Perez in his statement.
The ABC News report indicated that there was suspicious activity on Kalshi’s “Mentions” market. This market allows users to bet on specific phrases and words that might be used in public speeches, raising concerns about the integrity of the platform. Recently, Kalshi began requiring users to disclose their place of employment, emphasizing that betting based on job-related information is strictly prohibited.
This incident serves as a reminder of the importance of ethical behavior in positions of power and the potential consequences of crossing professional boundaries. As the situation develops, it will be interesting to see how the regulatory bodies respond and what measures will be put in place to prevent similar occurrences in the future.
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Associated Press writer Bill Barrow in Atlanta contributed to this report.
