Aide Allegedly Used Trump Speech Access for Gains
A White House teleprompter operator, Gabriel Perez, has been placed on leave following allegations of using non-public information for financial gain. Sources claim Perez leveraged advance knowledge of President Donald Trump's speeches to make over $100,000 by betting on the outcomes of events on Kalshi, a regulated prediction market. The alleged trades reportedly spanned more than a dozen speeches over approximately three months.
The Commodity Futures Trading Commission (CFTC) is reportedly discussing a settlement with Perez. Kalshi, the exchange where the alleged trading occurred, stated its surveillance team flagged and investigated the trades, subsequently referring them to the CFTC. Reports indicate the exchange froze around $90,000 and banned Perez from its platform.
This incident highlights concerns about insider trading on prediction markets, an area the CFTC has previously flagged. The exchange's rules prohibit trading based on material non-public information. The CFTC's framework suggests that misappropriating confidential information can violate the Commodity Exchange Act. The exact timeline of Kalshi's actions and the CFTC's involvement relative to the alleged trading remains unclear.
This is an AI-assisted summary. Original reporting by CryptoSlate.
Read the originalRelated stories
US Agencies Clash Over Crypto Regulatory Authority
The SEC and CFTC are locked in a battle over who has jurisdiction over digital assets in the US. Here's what it means for the crypto industry.
Crypto Used in Fentanyl Scheme
California pair charged with laundering crypto from darknet fentanyl sales
Japan Reclassifies Crypto
Japan passes landmark vote to reclassify bitcoin and crypto as financial assets