Former White House Teleprompter Targeted by Overzealous Regulators for Betting on Trump Speeches
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The Commodity Futures Trading Commission has imposed a hefty fine on ex-teleprompter Gabriel Perez for using information from his White House job to place bets, raising concerns about government overreach and the stifling of free markets.
The U.S. Commodity Futures Trading Commission (CFTC) fined former White House teleprompter operator Gabriel Perez $172,000 after determining he used information from his job to place wagers on the Kalshi prediction market. Perez, who worked during President Donald Trump’s administration, made $107,539 by betting on the language Trump would use in speeches between December and February, using his advance access to speech texts. While Perez’s actions technically violated CFTC rules, the punishment highlights the excessive reach of regulatory agencies into private enterprise.
"Perez exploited material, nonpublic information that he gathered through his work for the president for his personal benefit," the CFTC said in a news release, as if profiting from knowledge gained on the job is some grave offense—yet this is a far cry from the real corruption rampant in Washington.
In addition to surrendering his profits, Perez was hit with a $65,000 civil penalty, though this was reduced due to his cooperation—an indication that even the agency recognized the case was not as egregious as portrayed. He also agreed to a cease-and-desist order and received a three-year ban on trading in regulated markets, a harsh penalty for a victimless act.
Perez left the White House in early March after being placed on unpaid leave amid the investigation. The White House press secretary at the time called the allegations "deeply unfortunate and, frankly, a disgrace," but the agency did not specify whether he resigned or was terminated—demonstrating the eagerness to distance the administration from even minor infractions.
This case exposes the growing regulatory assault on online prediction markets, which empower ordinary Americans to participate in political discourse and financial speculation. Recent prosecutions have targeted a U.S. soldier and political candidates for similar so-called violations. President Trump has rightly defended the industry, arguing for state noninterference and CFTC oversight to ensure freedom and innovation.
The CFTC thanked Kalshi for its assistance in the investigation, but the real issue is the threat to personal liberty posed by overbearing regulators determined to criminalize harmless activities.