Trump’s Teleprompter Operator Accused of Betting on Presidential Speeches

What Happened?

Imagine you know a secret about what someone is going to say before they say it. Now imagine using that secret to win money. That’s basically what happened here!

• President Donald Trump’s longtime teleprompter operator is believed to have made tens of thousands of dollars by placing bets on more than a dozen of Trump’s speeches.
• Federal investigators from the Commodity Futures Trading Commission (CFTC)—a government group that watches over betting-like markets—found this, according to sources who talked to ABC News.
• The teleprompter operator is Gabriel Perez. He is a technical assistant to the president and has run Trump’s teleprompter (the screen that shows speech words) since 2016.
• Perez is talking with federal regulators to settle (make a deal about) allegations (claims) that he used his inside knowledge of Trump’s speeches to win over $100,000.

Important: Perez used secret info from his job to bet and possibly win more than $100,000.

How Does the Betting Work?

Kalshi is a "prediction market." Think of it like a playground where people bet on what will happen in the future.

• On Kalshi, there is a "Mentions" market where users can bet on whether specific words, phrases, or topics are said during a public speech.
• Kalshi alerted its regulator (the CFTC) about suspicious activity (weird bets) on this market.
• Kalshi’s lead lawyer, Bobby DeNault, said: "Our surveillance team promptly flagged and referred these trades to the CFTC, and we are cooperating and assisting regulators."

What Did the White House Do?

After ABC News reported the story, the White House responded.

1. White House Press Secretary Karoline Leavitt told reporters that Perez has been put on unpaid administrative leave (he isn’t paid and is stepped back from work for now).
2. Leavitt said she spoke with President Trump, who thought it was a "disgrace" and made the decision himself to put Perez on leave.
3. Leavitt said she did not know of any other White House staffers who made such trades.
4. White House spokesperson Davis Ingle said: "The White House has strict ethics guidelines that we expect all staffers and officials to follow."
5. Later in March, the White House sent an internal memo (a note to staff) warning them not to use nonpublic information (secrets) to bet on prediction markets.

Who Is Gabriel Perez?

Perez is not just any worker—he is very close to the president’s words.

• He has been one of Trump’s teleprompter operators since Trump’s first presidential campaign.
• Of all Trump’s closest aides (helpers), sources say Perez usually has the final eyes on nearly all of the president’s prepared remarks (written speeches).
• He often takes last-minute edits (changes) from Trump himself.
• He was previously looked at by congressional and federal investigators about edits made before Trump’s remarks on Jan. 6, 2021, at the U.S. Capitol attack.
• Trump often goes "off script" (doesn’t follow the screen). Trump said in January: "You know, when you go up here, you take a big chance, especially me because I go off teleprompter about 80% of the time."

Which Speeches Were Bet On?

Investigators found bets on many speeches over a three-month period.

• February’s State of the Union address
• A December primetime address
• A January speech at the World Economic Forum in Davos, Switzerland
• Trump’s remarks in March at a Medal of Honor ceremony
• A January speech to the Detroit Economic Club
• More than a dozen speeches in total

Important: In some cases, Perez backed out of bets mid-speech when Trump skipped parts that had a word Perez bet would be said.

What Is the CFTC Doing?

The CFTC is the government watchdog here.

• A CFTC spokesperson declined to comment (would not talk about it).
• Perez sat for an interview with regulators in recent months and admitted some of the trades.
• The CFTC told federal prosecutors in Manhattan (lawyers who handle crimes), but those prosecutors declined to open a criminal investigation (no crime case).
• Regulators have shown they want to settle with Perez. They discussed terms: he would give back his profits and not make similar trades.

What About Kalshi’s Rules?

Kalshi is the betting site involved.

• Kalshi has a policy against users betting based on info from their jobs.
• Last month, the company updated its rules to make users disclose (reveal) where they work.
• DeNault said in May: "If you have information by virtue of your job or your employment, something that you have a legal duty surrounding, and you have an obligation not to take that, misappropriate it for yourself."

Other Similar Cases

The Department of Justice (another government law group) recently brought the first two cases of "insider trading" on prediction markets. Insider trading is using secret job info to win bets or stocks.

• A special forces soldier allegedly bet on the capture of Venezuela’s president.
• A Google employee allegedly bet using internal company data.
• Both pleaded not guilty (said they didn’t do it).

What Does Trump Think of Prediction Markets?

Trump has mixed feelings.

• He has occasionally criticized prediction markets.
• In April, he said he supports them because the U.S. could be "left out in the cold" if it doesn’t allow companies like Kalshi to operate.
• He said: "Well the whole world, unfortunately, has become somewhat of a casino… I was never much in favor of it. I don’t like it conceptually, but it is what it is."
• Last October, Trump’s social media company announced it was looking into launching its own prediction market.

Summary

Gabriel Perez, Trump’s teleprompter operator since 2016, is believed to have used his secret knowledge of Trump’s speeches to bet over $100,000 on Kalshi’s prediction market. The CFTC is investigating, Kalshi reported it, and Perez is on unpaid leave while talks to settle continue. The White House says it has strict rules, and other similar insider betting cases have appeared. Trump supports prediction markets overall but doesn’t love the idea.

FAQ

Q: What is a prediction market?
A: It’s a place (like Kalshi) where people bet on whether something will happen, such as a word being said in a speech.

Q: What is a teleprompter operator?
A: The person who runs the screen that shows a speaker their speech words so they can read them while talking.

Q: Why is betting on speeches a problem?
A: Because Perez knew the speech contents from his job before others did, which is like cheating using secret info.

Q: Is Perez going to jail?
A: Not right now. Prosecutors declined a criminal investigation, and he is discussing a settlement with regulators to return profits.

Q: Did Trump know about the bets?
A: Trump learned of the report and called it a "disgrace," then chose to put Perez on unpaid leave.