The White House has suspended a long-serving teleprompter operator after allegations emerged that he placed bets on the specific content of President Donald Trump’s speeches. According to reports from ABC News and AFP, the employee, Gabriel Perez, allegedly used the prediction market platform Kalshi to profit from wagers on phrases and words featured in high-profile presidential addresses.
The Allegations Against Gabriel Perez
Gabriel Perez, who had served as a teleprompter operator for the President since 2016, is accused of leveraging his access to internal scripts for personal gain. Reports indicate he profited more than US$ 100,000 by betting on whether specific terms would appear in speeches, including the State of the Union address and a forum in Davos, Switzerland.
According to ABC News, the scheme involved active management of these bets. Perez reportedly canceled certain wagers in real-time when President Trump deviated from the provided script, effectively allowing him to hedge his bets based on the President’s unscripted departures from the prepared text.
Did you know?
Unlike traditional betting markets, prediction markets like Kalshi operate using financial mechanisms similar to stock exchange trading, allowing users to trade contracts based on the outcome of future events.
White House Response and Ethical Guidelines
White House Press Secretary Karoline Leavitt confirmed the administration’s awareness of the situation, stating that the President personally addressed the matter. “He considers this incident very unfortunate and, frankly, embarrassing,” Leavitt told reporters. She emphasized that the White House maintains strict ethical guidelines that explicitly prohibit such conduct.
As a result of these findings, the administration confirmed that Perez has been suspended without pay and will no longer perform duties at the White House. Leavitt clarified that the decision to remove him was made directly by the President.
Regulatory Scrutiny of Prediction Markets
The incident has drawn attention to the oversight of prediction markets. In a statement, Kalshi confirmed that it had reported suspicious activity related to the President’s speeches to the Commodity Futures Trading Commission (CFTC). The platform noted that the funds in question—exceeding US$ 90,000—were frozen in the operator’s account before any withdrawal could be completed.
This development highlights the growing friction between emerging financial prediction platforms and the need for internal information security. While the White House has moved to secure its operations, the case remains a focal point for regulators monitoring how non-public information is utilized within these digital trading environments.
FAQ
- Who is Gabriel Perez?
Perez was a long-time teleprompter operator for President Trump, having served in the role since 2016. - What platform was used for the bets?
The bets were placed on Kalshi, a prediction market that utilizes financial mechanisms similar to stock trading. - What was the outcome for the employee?
The White House suspended Perez without pay, and he is no longer employed at the White House. - Did the employee keep the money?
No. Kalshi stated that the funds, totaling over US$ 90,000, were frozen before the operator could withdraw them.
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