CFTC fines former White House operator $172K over prediction market bets

A former White House teleprompter operator has agreed to pay $172,539 after U.S. regulators found he used advance access to President Donald Trump’s speeches to make more than $107,500 trading prediction market contracts. Summary Gabriel Perez made more than $107,500 trading prediction market contracts using advance access to Trump’s speeches, the CFTC said. Perez must return $107,539 in profits, pay a $65,000 penalty and serve a three year trading ban. The CFTC said Perez received a reduced penalty because of his cooperation and credited Kalshi for assisting the investigation. The case follows other insider trading investigations involving prediction markets, including trades linked to Polymarket and Kalshi. The Commodity Futures Trading Commission said on Aug. 28 that Gabriel Perez misappropriated material, nonpublic information obtained through his federal government job to trade event contracts for his personal benefit. The settlement requires Perez to return $107,539.02 in profits and pay a $65,000 civil monetary penalty. Perez has agreed to a three-year trading ban and must cease further violations of the Commodity Exchange Act and CFTC regulations. The $65,000 penalty was su...