Donald Trump’s teleprompter operator allegedly made $US100,000 betting on president’s speeches
Updated ,first published
Washington: The man who operated Donald Trump’s teleprompter has been placed on leave after it emerged that he allegedly made more than US$100,000 ($143,000) from prediction markets based on what the US president said.
Gabriel Perez, a longtime technical assistant to the president, operated the teleprompter until 2016, when Trump first ran for office, giving him firsthand knowledge of the content of Trump’s speeches.
Prediction market firm Kalshi said it had alerted the regulator to suspicious betting activity on its “Mentions” market, where users can place bets on whether certain words or phrases appear in a conversation, following a months-long investigation.
Kalshi said the transactions attracted attention in March because they did not follow normal patterns of buying and selling. The money in Perez’s account was frozen before he could receive most of the profits from the platform.
The revelations were: First reported by America’s ABC NewsPerez placed bets on more than a dozen Trump speeches in three months, including the State of the Union, a speech at the World Economic Forum and a prime time speech in December, ABC reported.
The allegations, which were confirmed by the White House, emerged amid broader speculation that Trump’s family, subordinates or associates had the potential to use inside information to enrich themselves, given the market volatility caused by the Iran war.
White House press secretary Karoline Leavitt told reporters that Perez had been placed on unpaid administrative leave.
“I’m aware of the report. And the president … he believes that this is extremely unfortunate and frankly shameful,” he said. “The White House has a very strict code of ethics on matters like this.”
Leavitt said Perez complied with regulatory rules and the president decided to place him on leave. He said that to his knowledge, no other White House staffer had been investigated for similar allegations.
“This happened exactly the way it was supposed to happen,” Leavitt said. “Kalshi reported the suspicious activity to the CFTC. They investigated it, identified the individual, and he will no longer be working at the White House.”
Kalshi confirmed the facts of the matter, including that he “accused” Perez of violating the trading rules, specifically the sections prohibiting the trading of individuals with material non-public information or employees of a source institution. The money is frozen in Perez’s account.
“Our oversight team immediately flagged these transactions following an exchange investigation and referred them to the CFTC,” said Robert DeNault, Kalshi’s chief executive officer.
“We have charged this individual and are assisting regulators in this matter and have provided the evidence we have gathered as we would with any referral.”
Kalshi and Polymarket are the two main prediction market operators in the US, allowing users to buy and sell contracts tied to future events or outcomes; They essentially bet on whether something will happen or not. Both depend heavily on sports betting.
Prediction markets are not licensed to operate in Australia, but their websites can be accessed using virtual private networks. Their popularity exploded in the US after they were legalized following a groundbreaking court decision in 2024.
The revelation about Trump’s longtime teleprompter operator came just hours before the president delivers his first address to the nation, where he is expected to make significant claims about election fraud and interference.
“There will be a teleprompter operator tonight, but unfortunately he won’t be there. [mentioned] in this story,” Leavitt said.
He did not disclose details of the conversation but said its contents “will shock you.” Leavitt said the president will use the speech to advocate for the SAVE Act, which would force voters to show photo identification in all states, and other changes to voting regulations.
The allegations against Perez come amid widespread concern about the potential for administration insiders to profit from insider information about world events driven by Trump and the United States, including the war against Iran and other issues.
On the day the war began, data analytics firm Bubblemaps identified six “suspicious insiders” who acquired more than US$1.2 million ($1.72 million) in call options during that day’s strike. Since then, the firm has identified many more suspicious cases.
And Gannon Ken Van Dyke, a U.S. Army soldier, pleaded not guilty in January to charges of using classified information to profit from Polymarket bets related to the U.S. military operation to capture former Venezuelan leader Nicolás Maduro.
Senate Democratic leader Chuck Schumer said the revelations about Trump’s aide “are emblematic of the widespread corruption occurring within the Trump administration and exactly why they should ban prediction market trading for administration officials and staff.”
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Michael Koziol is the North America correspondent for The Age and the Sydney Morning Herald. He is a former Sydney editor, Sun-Herald deputy editor and a federal political correspondent in Canberra.Connect with: X or email.
