Trump teleprompter operator accused of cashing in on speech bets
ABC News reports Gabriel Perez allegedly made more than $100,000 betting on what President Trump would say during public remarks.
By Poppy Nakagawa · Culture Writer
3 min read
A longtime teleprompter operator for President Donald Trump allegedly made more than $100,000 by betting on the words and topics Trump would use in public speeches, according to ABC News.
ABC News reported that Gabriel Perez is in settlement discussions with federal regulators after investigators found he allegedly used advance access to Trump’s remarks to place winning wagers on Kalshi, a prediction market where users can bet on future events.
The bets reportedly focused on whether Trump would say specific words, phrases or subjects during public appearances. According to ABC News, investigators found Perez allegedly placed wagers tied to more than a dozen Trump events over a three-month period.
Those appearances included the State of the Union and Trump’s speech to the World Economic Forum, ABC News reported.
Inside track on Trump’s script
Perez’s role gave him access to Trump’s prepared remarks before the public heard them, according to the report. ABC News said he also had access to late changes made by Trump himself.
That alleged advance look is at the center of the case. Prediction markets depend on users betting without protected workplace information, and Kalshi bars customers from placing trades based on information obtained through their jobs, according to the company policy cited in the report.
Investigators also found Perez allegedly withdrew from some wagers while Trump was speaking when the president did not say words Perez had bet on, ABC News reported.
The report did not say that Perez has been charged with a crime. The matter is being handled by the Commodity Futures Trading Commission, the federal agency that oversees certain derivatives and prediction market activity.
Kalshi flagged the activity
Kalshi said it reported the suspicious trading to the CFTC, according to ABC News. The company’s alert helped bring the alleged betting pattern to regulators’ attention.
The CFTC is now discussing a settlement that would require Perez to give up the profits and stop making similar wagers, ABC News reported.
The White House told ABC News that Perez is cooperating with the CFTC.
ABC News did not report a separate public statement from Perez addressing the allegations. The report also did not identify the exact number of bets, the precise profit total beyond more than $100,000, or the full list of speeches involved.
The case puts a strange spotlight on a usually invisible job in presidential politics. Teleprompter operators are close to the final text of major speeches, including the edits that can happen shortly before a president steps to the lectern.
According to ABC News, investigators believe that access allegedly became an advantage on Kalshi, where Trump’s public remarks could be turned into a wager before the first words left his mouth.
This story draws on original reporting from TMZ.