Trump teleprompter operator made $100K betting on Kalshi markets

[ScamViruS]

Insiders always hold the most advantageous position in this market, securing massive gains with pinpoint accuracy a feat that is extremely difficult for the average person. Prediction markets are now entirely controlled by insiders who reap huge profits from major events, profits that would be impossible to achieve without insider access. People in Trump’s inner circle, for instance, often obtain information before he even begins a speech, they take positions in the prediction market accordingly and come out winners. This is a harsh reality for ordinary people like us.

[Finestream]

Isn't it true that prediction markets are often abused by insiders, especially those who work in government? President Donald Trump is the most in the spotlight and at stake in prediction markets because of his controversies so I wouldn't be strange for some people to use his office to make money.

If I were in Trump's circle, I would be. LoL

Who else is expected to win and take advantage of this prediction market than those who have strong connections within the Kalshi market, and its known for most of us that Kalshi and Trump family have close ties, so I won't doubt if Trump's teleprompter has used Trump's office for his personal interest to make money from Kalshi prediction market.

So most likely, the current scandal facing by Kalshi market about a high profile insider trading scandal is actually true which links to the White House represented by Trump and state regulators.

[Cleanshit]

Aren't people in such positions or jobs in government not allowed to gamble (participate in such markets/prediction markets) and trade? How do they just end up in such a circus? I guess the government of the United States under Donald Trump isn't strict enough to market manipulators, are they?

The rules might not allow them to be gambling or participate in such prediction activities, but they will still be doing it with the hope they don’t get caught. If military personnel, who have some of the highest discipline, can also do that using insider information to make money off the market, then we should expect even more in other government offices; only those caught are the ones we know about.

For personal gains most individuals will exploit confidential information, mostly in the sense that they won’t be caught. We should expect this from some government official, some public servant will carry out their duty’s without absusing position.
Now the issue is are they rules down to stop conflict of interest. Being it one uses any information that not available for the public making money from predictions markets, then they should be a proper investigation, and if rules are being broken they should be a penalty for that. Ever case should be judge base on fact instead of assuming the other way round that government officials behave same

[X-ray]

Aren't people in such positions or jobs in government not allowed to gamble (participate in such markets/prediction markets) and trade? How do they just end up in such a circus? I guess the government of the United States under Donald Trump isn't strict enough to market manipulators, are they?

There was an ethic guideline in whitehouse, but it's not really disallowing its staff from gambling on the polymarket. Apart from that expecting Trump's regime to be strict with the market manipulators make no sense because Trump and his close people are also the market manipulators.

[acroman08]

Doesn’t this seem like an attempt to legalize and monetize access to insider information? What do you think?

It does, and if you ask me, it is basically insider trading(if prediction market is involved), and it should be illegal. But then again, knowing how the US government operates, they probably find a loophole for it in order for it to be considered legal.  

[salad daging]

Isn't it true that prediction markets are often abused by insiders, especially those who work in government? President Donald Trump is the most in the spotlight and at stake in prediction markets because of his controversies so I wouldn't be strange for some people to use his office to make money.

If I were in Trump's circle, I would be. LoL

That's right, so it's not strange that things related to prediction markets are easily manipulated by insiders or people who are nearby there must be accurate info than ordinary people who do it by just guessing.
Believe it or not that maybe behind it is more structured than we think it is today, it could have created a network to take advantage of the prediction market, who knows about it, many ways to do it.

I will not be strange with this, previously it has been discussed several times about people in the government sometimes betting on the prediction market to get rich themselves, although some of them are reported to be checked because they are caught.

Although there are already laws and rules, this does not immediately obey just like that, there must be someone who disobeys.

[Hispo]

Doesn’t this seem like an attempt to legalize and monetize access to insider information? What do you think?

It does, and if you ask me, it is basically insider trading(if prediction market is involved), and it should be illegal. But then again, knowing how the US government operates, they probably find a loophole for it in order for it to be considered legal.  

I think they would not be able to find a loophole to legalize inside trading. The framework and laws in the United States is quite rigurous when comes to market manipulation and there are also several precedents for people who had tried to take advantage of their privileged information and they had still faced justice and got imprisoned.
Even if the Trump administration tried to get it changed, it would need support from both of the chambers on the American Government, it would take several votes in favor to separate cases like this one from inside trading within Wall Street.

[Sticky Bomb]

Aren't people in such positions or jobs in government not allowed to gamble (participate in such markets/prediction markets) and trade? How do they just end up in such a circus? I guess the government of the United States under Donald Trump isn't strict enough to market manipulators, are they?

From what I found on a quick search, they're not allowed to gamble while on duty or while in government owned or leased property, maybe they have more leverage than supposed and they're busy exploiting it. The guy just made a mess of his career for just $100k, greed can push you to make some decisions you'll regret later on. He is also a jerk for pulling this stunt by himself, he could've used an anonymous friend to get on with his dirties.

[Lida93]

Trump called the alleged conduct a “disgrace.”

https://abcnews.com/US/white-house-teleprompter-operator-made-100k-betting-trumps/story?id=134764573

Apparently, people around Trump decided that if he can make money as president, then so can we.

Birds of a feather yet one tends to see another as a disgrace. Lol

Isn't this same Trump that made millions through his $trump shit coin that got a lot of people in deep shit. Family has made some what unexplainable profits with cryptocurrency created tokens that is as good as any scam token on it's gullible investors. Yet, same man calls it a disgrace a character of his subject that may have being bolstered by his principal recent escapade since emerging as POTUS.

[henmark]

President Donald Trump's longtime teleprompter operator is believed to have made tens of thousands of dollars by placing bets on more than a dozen of Trump's speeches on the prediction market Kalshi.

Gabriel Perez, a technical assistant to the president who has been operating Trump's teleprompter since 2016, is in talks with federal regulators to settle allegations he used his inside knowledge of the president's speeches to win more than $100 000. According to the sources, Kalshi alerted CFTC to the suspicious activity on its "Mentions" market, where users can bet on whether specific words, phrases or topics are uttered during a public speech. Trump called the alleged conduct a “disgrace.”

https://abcnews.com/US/white-house-teleprompter-operator-made-100k-betting-trumps/story?id=134764573

Apparently, people around Trump decided that if he can make money as president, then so can we.

To be fair, dude had inside information on what would be said, he knew it because he literally was the one who was showing the words for him, and he got it before the speech, which means, probably AT LEAST one hour before the speech, he had it. Still was a risk because lets face it, Trump is the type of idiot who couldn't even read straight and would go off the rails at times. Still it would be something that would be gaining a lot of return for them.

I think it is quite clear that we are going to see a lot more people will be caught like this, and we only know this one because he probably was not careful enough. Wait until the term is over and you are going to see a lot more people getting jail time or penalties based on what they did.

[o48o]

Insiders always hold the most advantageous position in this market, securing massive gains with pinpoint accuracy a feat that is extremely difficult for the average person. Prediction markets are now entirely controlled by insiders who reap huge profits from major events, profits that would be impossible to achieve without insider access. People in Trump’s inner circle, for instance, often obtain information before he even begins a speech, they take positions in the prediction market accordingly and come out winners. This is a harsh reality for ordinary people like us.

Thing is that even in sports betting, insiders are legally barred from gambling with insider knowledge. It's both unethical and bad for business. Prediction markets are fighting not to have "gambling" brand on them, so same laws wouldn't apply to them. Technically they could still be in uncharted waters, but i am guessing that meanwhile they will be treated as gambling institutions. Though i am not sure why kalshi and polymarkets would see that insders gambling on them would be good for their brand.

[passwordnow]

That's the trick there. I think that many bettors are still don't want to ask anybody just to them a favor where they can earn a lot of money. And for this teleprompter guy, he went on his own thinking that he won't get caught. He simply doesn't want to share his profits to anybody asking them a favor to do the kyc for him.

The truth is he earned lots of money and sent the earned USDC to a exchange like Coinbase with his KYC

The government viewed the account winning everything and contacted Coinbase to get details

He should have sent the USDC to a mixer to hide the money but I think he did not believe he did anything illegal so he did not think the government would try to catch him.

Yeah, that makes sense so any transaction that's sent directly to the exchange from where it was won is giving that trace for the government easily. There's that question how and why he's got that much money sent directly.

I think the next time will be more difficulty to find the insider

They'll be wiser but no matter how they hide, they'll still be revealed eventually.

[mikel_012]

They'll be wiser but no matter how they hide, they'll still be revealed eventually.

The government will always try, but you can hide yourself if you are smart. Many criminals are arrested but not all, we know about many exchange hacks that did not result in any arrest so this means the people responsible are still hidden and they can slowly spend the money if they are smart with hiding it with mixers and other methods

The issue is the teleprompter and other insiders are regular people with no experience in cryptocurrency or how to hide the money. They just download a wallet and bet with the information and try to cash out in any way, so they are found easily

[freedomgo]

Insiders always hold the most advantageous position in this market, securing massive gains with pinpoint accuracy a feat that is extremely difficult for the average person. Prediction markets are now entirely controlled by insiders who reap huge profits from major events, profits that would be impossible to achieve without insider access. People in Trump’s inner circle, for instance, often obtain information before he even begins a speech, they take positions in the prediction market accordingly and come out winners. This is a harsh reality for ordinary people like us.

But for sure they won't admit that its happening inside the prediction market, but it secretly does. That's why from the very beginning I don't believe that provably fair games exist in prediction market. The site itself is rigged, so expect that if someone wins, the result is already pre-cooked. And only those who have connections to the insiders are allowed to do that.

Trump may or may not be aware of that, but if he has huge connection to the insiders too, then most likely he's fully aware of that.

[passwordnow]

They'll be wiser but no matter how they hide, they'll still be revealed eventually.

The government will always try, but you can hide yourself if you are smart. Many criminals are arrested but not all, we know about many exchange hacks that did not result in any arrest so this means the people responsible are still hidden and they can slowly spend the money if they are smart with hiding it with mixers and other methods

Yeah, some will be caught but there will be few that won't be because they're smart enough to hide this tactic.

The issue is the teleprompter and other insiders are regular people with no experience in cryptocurrency or how to hide the money. They just download a wallet and bet with the information and try to cash out in any way, so they are found easily

Exactly, they don't know how to hide yet but soon when they're able to surpass this situation and issue. They'll have it in their minds that there's gotta be a way for them to hide and conceal their identities and be wiser on how to do transactions so that they won't be tracked.

[dansus021]

According to the sources, Kalshi alerted CFTC to the suspicious activity on its "Mentions" market, where users can bet on whether specific words, phrases or topics are uttered during a public speech.

So from here we know that if a gamble win a lot The provider didnt want that that why Kalshi as the operator tell CFTC haha. But anywhere on earth that the insider is always wins because they know what comes next is just like they are psychic tha know the future.

If I were the teleprompter Im goin to divide into multiple account use multiplle withdrawal address so comes clean haha

[DrBeer]

This thread discusses one example of direct, illegal gain from being close to Trump and his team. BUT these are minor issues compared to Trump’s new "business plan".
Take a look at the "beauty" of this solution:
"Trump wants to sell early access to his posts for $100,000 a month.
As a reminder, Trump Media has introduced a paid API for Truth Social, through which banks, funds, and traders will be able to receive posts from the platform a few seconds before everyone else.
The service will include posts from the 10 largest Truth Social accounts, including Donald Trump’s. The company expects that such access will be in demand among market participants who trade on news.
The price tag is $100,000 a month".

Doesn’t this seem like an attempt to legalize and monetize access to insider information? What do you think?

it's no secret that Trump is using his position as president to enrich himself. even the Republican Party understands this but they're afraid to speak out. I think this teleprompter operator example shows that people close to Trump see that they can use their position to enrich themselves with impunity. I expect we'll see a slew of investigations after Trump's presidency ends.

Let’s be honest-most politicians, if not all, use their positions to enrich themselves; that’s a fact. But Trump is operating outside the law!
If you didn’t know, insider trading,or using non-public information for personal gain,is prohibited by law in the U.S. and is a crime. And this decision by Trump is, in essence, an attempt to hide an insider sale behind the "smokescreen" of a perfectly legal subscription sale!

P.S. By the way, here’s some great news: Federal Judge Kathleen Williams (U.S. District Court for the Southern District of Florida) has annulled the controversial deal struck between the Donald Trump administration and the U.S. Internal Revenue Service (IRS). This agreement not only granted Trump immunity from tax audits but also provided for the creation of a fund totaling nearly $1.8 billion for his supporters who claimed to be victims of "political persecution".

[nikola22]

Let’s be honest-most politicians, if not all, use their positions to enrich themselves; that’s a fact. But Trump is operating outside the law!
If you didn’t know, insider trading,or using non-public information for personal gain,is prohibited by law in the U.S. and is a crime. And this decision by Trump is, in essence, an attempt to hide an insider sale behind the "smokescreen" of a perfectly legal subscription sale!

P.S. By the way, here’s some great news: Federal Judge Kathleen Williams (U.S. District Court for the Southern District of Florida) has annulled the controversial deal struck between the Donald Trump administration and the U.S. Internal Revenue Service (IRS). This agreement not only granted Trump immunity from tax audits but also provided for the creation of a fund totaling nearly $1.8 billion for his supporters who claimed to be victims of "political persecution".

I agree, but these politicians do this within a more legal framework. for example, it could be through government contracts with companies in which they are owners or major shareholders. in Trump's case, this is blatant insider trading and I'm sure he'll say he sees nothing wrong with it. it seems to me that this unfortunate operator was caught with a small sum by US standards while his inner circle is making hundreds of millions of dollars from Trump's information.

as for the judges' decisions, I'm not sure Trump will suffer during his presidency and after his term ends, he'll simply sign an executive order preemptively pardoning himself and his family members as Biden did.

[tygeade]

Polymarket, or more like these "prediction" markets , are opening the door for these kinds of insider trading. Because you are not just betting on stuff that are unknown, you are betting on things that can be meddled with. Like for example, in a regular sportsbook, for a football match, if the match is fixed, then people know about it and they can bet, but if it's not, then you can be sure that you are going to bet them to win because they will fight to win, they will not lose on purpose.

With prediction markets, you can literally bet on what the word he will say, that's something easily predictable if you are the dude who is literally running the teleprompter, and that is why betting on these kinds of things makes no sense to me at all.

[Hispo]

Polymarket, or more like these "prediction" markets , are opening the door for these kinds of insider trading. Because you are not just betting on stuff that are unknown, you are betting on things that can be meddled with. Like for example, in a regular sportsbook, for a football match, if the match is fixed, then people know about it and they can bet, but if it's not, then you can be sure that you are going to bet them to win because they will fight to win, they will not lose on purpose.

With prediction markets, you can literally bet on what the word he will say, that's something easily predictable if you are the dude who is literally running the teleprompter, and that is why betting on these kinds of things makes no sense to me at all.

It may not make sense to you, because those markets because those markets do not have much liquity or because they don't have so much transparency, however there are certainly many people who like to get involved in exotic and weird markets on Polymarkets, markets and betting options which are not available on other websites.

I have even seen markets which are about guessing on the political situation of this country (Venezuela), that is something which is not easily found on major betting platforms.

There are even people who like to bet on the things Trump may or may not say during a speech. Those are people trying to capitalize their knowledge on USA politics.