Ex-White House teleprompter operator fined $172,000 for Trump speech bets
Commodity Futures Trading Commission said Gabriel Perez wagered on Kalshi about words president used in speeches
TL;DR
- Gabriel Perez, a former White House teleprompter operator, was fined $172,000 by the CFTC.
- Perez used inside knowledge of Donald Trump's speeches to bet on words or phrases on the Kalshi platform.
- He profited $107,539.02 from these bets, which are considered unlawful conduct.
- Perez was ordered to disgorge profits and pay a civil penalty, totaling $172,000.
- He also received a three-year trading ban and agreed to cease violations of market manipulation laws.
- The case highlights the proliferation of online prediction markets and the potential for insider trading.