CFTC Settles Insider Trading Case Against Former Trump Teleprompter Operator for $172,539
TL;DR — Gabriel Perez settled CFTC charges after using advance access to Trump’s speeches to profit $107,539.02 on 39 of 43 Kalshi Trump-mention contracts. He disgorged all gains, paid a $65,000 penalty and accepted a three-year ban. The case is the latest in a series of federal actions against prediction market insider trading.
SCCG Take — The CFTC’s emphasis on cooperation and penalty reductions signals it will pursue these cases aggressively. Prediction platforms must tighten controls on nonpublic information to limit regulatory exposure.
The Commodity Futures Trading Commission has settled charges against Gabriel Perez, a former technical adviser to President Donald Trump who operated the White House teleprompter, for trading on prediction markets with nonpublic information from prepared presidential remarks.
Perez agreed to disgorge $107,539.02 in profits, pay a $65,000 civil penalty and accept a three-year trading ban. The CFTC cited his “extraordinary cooperation,” including an immediate voluntary interview and document production, which produced an approximately 40% penalty reduction exceeding the standard 25% under agency policy. Perez traded 43 Trump mention contracts on Kalshi and profited on 39 of them.
His role granted access to speeches roughly one hour before delivery. Perez reviewed the prepared text to buy or sell “Yes” or “No” contracts on whether specific words or phrases would appear. On one occasion he reversed a position after Trump skipped part of the script. The CFTC determined the information was confidential and that federal ethics rules barred its use for personal gain. The matter became public in July, after which Perez left government service.
Perez’s Specific Market Activity
Perez opened his Kalshi account on Dec. 8, 2025. His trading concentrated on Trump-related events including the State of the Union address, World Economic Forum appearance, National Prayer Breakfast and speeches in Pennsylvania, North Carolina, Iowa and Georgia. All $107,539.02 in gains stemmed from these 39 successful contracts, according to reporting by Gambling Insider.
Enforcement Pattern and Forward Risks
The settlement forms part of a widening CFTC focus on prediction market abuses. It follows an order against former U.S. Rep. George Santos to pay approximately $35,000 for manipulating a Kalshi contract, charges against U.S. Army servicemember Gannon Ken Van Dyke involving more than $404,000 in profits from classified information, and charges against Google employee Michele Spagnuolo tied to approximately $1.2 million from nonpublic search data. Authorities are preparing further cases expected this fall.
Enforcement Direction for Platforms and Traders
Platforms and account holders face mounting pressure to implement stricter information barriers and surveillance. The pattern of swift settlements for cooperation indicates the CFTC will continue prioritizing these matters, raising the compliance threshold for all participants in election and event contracts.
Reporting: Gambling Insider
Generated by SCCG’s automated editorial system from published source reporting. SCCG Management holds editorial responsibility.
Prediction markets now carry insider-trading liability — platforms and users both face real enforcement risk from federal regulators.
This is the fourth federal prediction-market enforcement action in months. The CFTC is drawing a clear line: nonpublic information, even mundane speech prep, triggers commodity fraud rules. Platforms offering event contracts must now treat compliance like sportsbooks treat integrity monitoring — or risk being the next headline.
- Perez profited $107K on 39 of 43 Kalshi contracts using advance Trump speech text
- CFTC reduced penalty 40% for cooperation, still imposed 3-year ban and full disgorgement
- Fourth federal case targeting prediction market abuse since late 2024
SCCG angle: We are advising platforms on participant monitoring, disclosure protocols and regulatory guardrails as prediction markets scale. Our compliance network includes former CFTC counsel and integrity specialists who built controls for sportsbooks — the same frameworks now required here. If you are launching or defending event contracts, we help you avoid being the next enforcement target.
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