US President Donald Trump’s longtime teleprompter operator, Gabriel Perez, is under investigation by federal regulators over suspected insider trading on prediction market platform Kalshi, according to sources familiar with the matter.
The investigation began after Kalshi detected unusual trading activity through its customer onboarding and market surveillance systems. The platform referred the case to the US Commodity Futures Trading Commission (CFTC), which is now reviewing whether privileged information was used to place bets.
Kalshi’s head of enforcement, Robert DeNault, said the company promptly reported the suspicious trades after conducting its own internal investigation and has been cooperating with regulators by providing relevant evidence.
Sources said Perez is fully cooperating with the CFTC investigation. Following the revelations, the White House placed him on unpaid leave, and Press Secretary Karoline Leavitt later confirmed that he will no longer work at the White House.
Leavitt said President Trump had been informed of the matter and added that, to her knowledge, no other White House or administration officials are suspected of using confidential information to place bets on prediction markets.
Kalshi account frozen
According to sources, Kalshi froze Perez’s account before he could withdraw more than $90,000 in alleged profits. The platform’s internal probe included interviews with Perez, while market makers also reported suspicious trading patterns through whistleblower channels.
The alleged trades involved Kalshi’s “mention markets,” which allow users to wager on whether certain words or phrases will be spoken during speeches, broadcasts or corporate events. These markets have drawn increased scrutiny because individuals with advance access to prepared remarks could gain an unfair advantage.
Growing regulatory scrutiny
The Perez investigation comes amid broader concerns over insider trading on prediction market platforms such as Kalshi and Polymarket.
Earlier this year, a US Army soldier was charged over bets linked to the capture of Venezuelan leader Nicolas Maduro on Polymarket. In June, regulators also opened an insider trading investigation into former Congressman George Santos over Kalshi-related trades.
In response to regulatory concerns, Kalshi announced in June that it would require employment disclosures for users trading on sensitive contracts and launch a whistleblower portal to strengthen market integrity.
Prediction market platforms such as Kalshi and Polymarket allow users to trade contracts based on the outcomes of future events, including elections, sporting events and weather forecasts. Regulators have increasingly focused on preventing market manipulation and insider trading as these platforms continue to grow.
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