Officials probe whether White House teleprompter operator profited off Trump's words

Accessibility links Skip to main content Keyboard shortcuts for audio player Open Navigation Menu --> Newsletters NPR Shop Get NPR+ Close Navigation Menu Home News Expand/collapse submenu for News National World Politics Business Health Science Climate Race Culture Expand/collapse submenu for Culture Books Movies Television Pop Culture Food Art & Design Performing Arts Life Kit Gaming Music Expand/collapse submenu for Music Tiny Desk New Music Friday All Songs Considered Music Features Live Sessions Podcasts & Shows Expand/collapse submenu for Podcasts & Shows Daily Morning Edition Weekend Edition Saturday Weekend Edition Sunday All Things Considered Up First Here & Now NPR Politics Podcast Featured Wait Wait...Don't Tell Me! Fresh Air Wild Card with Rachel Martin It's Been a Minute Embedded Get NPR+ More Podcasts & Shows Search Newsletters NPR Shop Get NPR+ Tiny Desk New Music Friday All Songs Considered Music Features Live Sessions About NPR Diversity Support Careers Press Ethics Trump’s teleprompter operator probed for prediction market trades It's the first known instance of officials investigating suspected insider trading on a prediction market from inside the White House. Justin Sullivan/Getty Images hide caption Federal regulators are in settlement talks with President Trump's longtime teleprompter operator, who is alleged to have made nearly $100,000 on the prediction market site Kalshi, according to two people with knowledge of the probe who were not authorized to speak publicly. He is suspected of profiting off of his access to the president's prepared remarks on a type of betting on Kalshi known as "mention markets," where people wager on words and expressions the president will or will not say during public events. Technology TV antennas and Super Bowl rehearsals: How prediction market traders seek an edge Prediction markets allow people to bet on elections, global policy or even what color tie the president will wear. The markets have exploded in growth in recent months, leading to several instances of high-profile insider trading. But this marks the first time someone inside the White House has been investigated for allegedly abusing that access for prediction market profits. Gabriel Perez, who has worked for the president since 2016, is now negotiating with the Commodity Futures Trading Commission over his alleged lucrative betting activity on the "mention markets." Law U.S. soldier charged with using classified information to bet on Maduro's removal Ahead of Trump's address to the nation later on Thursday, Kalshi traders have already wagered more than $800,000 on whether the president will say words like "Hormuz," or "rigged election," or "fake news." In the case of Perez, Kalshi's surveillance systems detected unusual betting on "mention" markets involving the president that did not follow typical behavior, and when the company examined the accounts behind it, investigators saw that he was a federal employee, according to a source with direct knowledge of the inquiry. Records show that as a deputy assistant to the president, Perez was paid $175,000 a year. Trump would sometimes make references to him during appearances, like he did during a 2024 campaign stop in Reno, Nevada in 2024. "I have a guy, Gabe, he's excellent. I've had some real bad ones, but I have Gabe, some of the bad ones, they go so fast. I will go and I say, slow the damn thing," Trump said. "No, a good one is really like gold." Perez is currently on unpaid administrative leave, White House Press Secretary Karoline Leavitt said on Thursday, calling the actions "a disgrace." In a statement, Kalshi credited its detection tools with catching Perez. Technology DOJ charges Google staffer over Polymarket trades netting $1.2 million "Our surveillance team promptly flagged and referred these trades to the CFTC after an exchange investigation. We have been assisting regulators on this matter and provided evidence we collected, as we do in any referral," said Robert DeNault, who heads enforcement at Kalshi. Kalshi froze about $90,000 of Perez's profits and he has been banned from betting on the site, one of the sources not authorized to speak publicly said. Politics DOJ is investigating former congressman George Santos for insider trading on Kalshi Perez did not return a request for comment. ABC News first reported on the investigation into Perez. The president's unpredictable and digressive speaking style can make for highly volatile trading on the site's "mention markets," where the odds of Trump uttering a particular word or phrases fluctuate drastically, with traders trying to forecast what subject he may veer to next. Some traders who consider "mention" markets something of a full time job have installed TV antennas to get a tiny fraction-of-a-second advantage during live events. Using non-public information to win big or manipulate markets on Kalshi is prohibited by the platform's rules. Such behavior could also be criminally prosecuted as wire fraud, commodities fraud and money laundering. It is not clear if the Department of Justice is examining the case of Perez. In March, White House staff received a memo warning against using nonpublic government information to place bets on Kalshi and its biggest competitor, Polymarket. The memo, which was reviewed by NPR, stated that it is a criminal offense for anyone inside the White House to "buy" or "sell" on the sites. Prediction markets offer "yes" or "no" contracts that change in price based on the speculation of bettors. Aides in the White House were told in the memo that misusing government information "is a very serious offence and will not be tolerated." In April, federal prosecutors charged a U.S. Army special forces soldier for making $400,000 on Polymarket ahead of the capture of Venezuelan leader Nicolás Maduro. The following month, a Google software engineer was charged with using confidential company information to make $1.2 million on Polymarket, for correctly guessing on Google search trends. Others have been under investigation, too, including former Republican congressman George Santos who investigators say pumped up a Kalshi market by claiming he would attend Trump's 2026 State of the Union address, only to cash out on a "no" trade when he skipped it. Sponsor Message Become an NPR sponsor