Former White House Aide Fined for Trading on Trump Speech Details
Ex-teleprompter operator Gabriel Perez used advance knowledge of Trump speeches to profit over $107,500 on prediction markets.
Gabriel Perez, a former White House teleprompter operator, has been fined by the U.S. Commodity Futures Trading Commission (CFTC) for insider trading on prediction market contracts. According to the CFTC, Perez used his access to President Donald Trump's speeches before they were delivered to place bets on whether certain names would be mentioned.
The contracts were part of a "presidential mention market" offered by a prediction market platform. Perez reportedly profited by more than $107,500 from trades he made based on non-public information about the speeches.
CFTC enforcement action
The CFTC's action highlights the agency's view that federal insider trading prohibitions apply to prediction markets, not just traditional securities and commodities. The case adds to a growing list of enforcement actions involving event contracts.
The exact amount of the fine and the name of the prediction market platform were not disclosed in the announcement. Perez did not immediately respond to a request for comment.