White House staff fined, forfeits winnings for betting on Trump’s words

A former White House teleprompter operator accused of using inside knowledge to make bets on the prediction market Kalshi has been ordered to turn over more than US$100,000 in profits and pay a US$65,000 fine as part of a settlement with federal authorities.

The settlement with the Commodity Futures Trading Commission, announced on Friday, also dealt Gabriel Perez a three-year trading ban.

Perez was placed on unpaid leave from his job at the White House after reports emerged that he used his position to make bets on what President Donald Trump

The White House did not immediately comment on the settlement. A White House official said in July that Perez was no longer in his position but did not say if he had been fired or resigned.

The commission said Perez traded presidential “mention market” contracts on Kalshi between December 2025 ‌and February 2026 while working at the White ⁠House. ⁠The event contracts pay out based on whether ‌a president uses specific words or phrases in speeches.