White House speechwriter bets on Trump's words, wins big

Gabriel Perez, who operated the teleprompter for President Donald Trump's speeches, is reportedly under investigation by the Commodity Futures Trading Commission (CFTC) for allegedly using insider information to profit from a prediction market. ABC reported that Perez placed bets on the "mention market" of the prediction platform Kalshi, which allows users to wager on whether specific words will appear in political speeches.

According to the report, Perez leveraged advance knowledge of presidential speeches to make multiple bets, accumulating over $100,000 in profits. He had been responsible for the teleprompter since before the 2016 election and was privy to final speech drafts, as Trump frequently made last-minute changes. Speeches involved in the alleged scheme include those given at the World Economic Forum in Davos and a Medal of Honor ceremony.

Kalshi's internal surveillance team detected unusual trading activity linked to Perez, prompting them to alert the CFTC. The company stated it is cooperating with the regulatory investigation. Perez's accounts have reportedly been frozen. The White House acknowledged the situation, with spokesperson Caroline Ribble calling it "regrettable and frankly embarrassing" and confirming President Trump was aware of the matter. Perez is currently on unpaid leave pending the investigation.

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very regrettable and frankly embarrassing.