Former White House Teleprompter Operator Fined $172,000 for Insider Trading
2 sources across 2 countries · United Kingdom · United States
Who reported this
- The Guardian
- MS NOW
What the colours mean
- Left
- Centre-left
- Centre
- Centre-right
- Right
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Gabriel Perez, a former White House teleprompter operator, has been ordered by the Commodity Futures Trading Commission (CFTC) to pay a total of $172,000 following allegations that he used nonpublic information to bet on Donald Trump's speeches. The settlement includes the disgorgement of $107,539.02 in profits and a civil penalty of $65,000. Perez also received a three year trading ban and agreed to cease and desist from further violations of federal laws prohibiting market manipulation.
According to the CFTC, Perez used his access to presidential speeches between December and February to place wagers on the Kalshi prediction platform regarding specific words or phrases Trump would use. The agency noted that the final fine represented a substantial discount due to Perez's exemplary cooperation during the investigation. Perez had previously been placed on unpaid leave and is no longer employed by the White House, though it remains unclear if he resigned or was fired.
While both reports focus on the legal penalties, a center left source frames the event as part of a broader trend of insider trading within proliferating online prediction markets, citing other cases involving a US soldier and political candidates. The center left source also notes that Donald Trump has defended the prediction market industry, which has ties to his family. A left leaning source focuses more narrowly on the specific settlement and the breach of trust regarding the operator's position.
How each side framed it
- Left
- Focused primarily on the legal settlement and the specific details of the insider trading.
- Centre-left
- Framed the incident as an example of a systemic issue with the rise of prediction markets and mentioned Donald Trump's ties to the industry.
Sources
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