He won $100,000 betting on official speeches

A White House employee was suspended after using insider knowledge to bet on speeches made by President Donald Trump, according to reports published this week. The individual, identified as Gabriel Pérez, allegedly won more than $100,000 through bets placed on prediction markets such as Kalshi. These bets were based on specific words or phrases that would appear in presidential addresses, which Pérez had access to prior to their delivery. Pérez has worked as the operator of the teleprompter for Trump since 2016, providing real-time text support during public appearances. According to an investigation conducted by ABC News, he placed wagers on several high-profile speeches, including the State of the Union address in February, a speech at the World Economic Forum in Davos, Switzerland, and a prime-time address in December. The betting activity came to light following an internal review by Kalshi, the prediction market platform where the bets were placed. The White House responded swiftly to the situation. A spokesperson, Karoline Leavitt, confirmed that the president was aware of the findings and expressed concern over the incident. She stated that Pérez had been suspended from his position and would no longer work within the administration. “It was a decision made by the president,” she added, implying that the action reflected the seriousness with which the administration viewed the breach of trust. Kalshi’s compliance officer, Robert DeNault, revealed that the company had alerted the U.S. Commodity Futures Trading Commission (CFTC) about suspicious activities related to Trump's speeches. He explained that Kalshi’s monitoring team detected unusual trading patterns and promptly reported them to regulatory authorities. This move underscores the growing scrutiny surrounding prediction markets in the United States, particularly regarding the potential misuse of confidential information. Prediction markets have become a subject of increasing debate in recent years, especially as allegations of insider trading continue to surface. Earlier this year, a U.S. soldier faced federal charges for using classified information to place bets on markets linked to the January operation targeting former Venezuelan leader Nicolás Maduro. That case reportedly resulted in a potential payout of over $400,000, further highlighting the risks associated with leveraging non-public data for financial gain. The controversy raises broader questions about the ethical boundaries of predictive markets and the responsibilities of individuals who have access to sensitive information. While these platforms aim to provide insights into future outcomes, they also present opportunities for exploitation when users possess privileged knowledge. The cases involving Pérez and the soldier illustrate how such practices can lead to legal consequences and damage public trust in both institutions and individuals.