Trump teleprompter operator made $100K betting on Kalshi markets

[nikola22]

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.

[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

[OgNasty]

This is a wild story. It is the sort of thing that people always speculate is happening but you never actually hear about anyone getting caught. I’m glad that he is suspended without pay (I believe that is what I read) and hope that protections are put in place for these prediction markets. The stories are going to start getting crazy.

[JeromeTash]

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

Like the famous saying goes, "The fish rots from the head."
I am not surprised at all with such news. In fact, that might only be the tip of the iceberg. I am certain most of the people in Trump's circles may have taken advantage of the market one way or the other

But how much do those teleprompters get paid anyway? Imagine losing your job/messing up with your career for just $100K

[Renampun]

With so many people in Trump's circle, I'm not surprised that one of them took advantage of Trump's actions to their advantage. if we were to investigate further, there would probably be more.. that guy was probably just unlucky that his actions were immediately noticed by Kalshi and then followed up by the CFTC. but for the "big guys" who have made millions of dollars by taking advantage of Trump's actions, maybe they can still get away with it.

[arallmuus]

But how much do those teleprompters get paid anyway? Imagine losing your job/messing up with your career for just $100K

The specific guy, Gabriel Perez made $175k annually according to some sources

What really surprised me is that they found out he actually make money out of those information he got huh, I guess he isnt that bright enough. If I were him then I probably gonna let someone close to me to do all those betting for me then split it half instead of making it myself

This is a wild story. It is the sort of thing that people always speculate is happening but you never actually hear about anyone getting caught. I’m glad that he is suspended without pay (I believe that is what I read) and hope that protections are put in place for these prediction markets. The stories are going to start getting crazy.

I mean since he is the teleprompter and he knows what word Trump will be spouting then its pretty hard not to bet on that especially when polymarket has betting line on that...

[r_victory]

Prediction markets are a goldmine for those with access to the right information...

I believe Trump is likely the figure who appears most frequently in contracts on these platforms; every statement, decision, and action of his likely yields thousands for many people.

[nelson4lov]

Of course, Trump will call it a disgrace seeing that he is an active participant making money from inside information. There are a lot of insider information in prediction markets that I don't think traditional gambling like sportsbetting. I know sportsbetting can be rigged too but the level of insider information on prediction markets is very alarming at this point. I won't blame them. Trump, his sons and everybody in his employ are milking as much as possible because they might never get another chance like this in the future where they'll be at the center of insider info.

[Alphakilo]

Issues like this make me think if this is one big reason why the clarity act has refused to be signed into law since it came up , but what do I know.
Even though we seen similar cases like this teleprompter making such huge amount, the case of the capture of Nicola Maduro where a U.S soldier made over $400k and that of Coinbase CEO although not so popular, it just goes to show how the predictions market is nothing short of being run by insider information.

[boyptc]

Insiders can't be solved for the prediction markets. That will be the problem that they'll never know if someone is doing and using their personal knowledge in advance for the bets that they make.

They'll only get to know these people if they're so vulgar with what they do and if they have mentioned that they predict and bet on prediction markets.

I guess for kalshi and polymarket, this is going to be a long time battle for the insiders.

[Coyster]

Not too long ago, it was a special operations soldier who made around $400,000, when he bet on Maduro's capture due to the inside knowledge he had about the impending operation.

If there is a way to abuse something, you can be certain that people would do so. Prediction markets are at risk of getting ripped off by people with inside information, and there would be so many others still doing so that are yet to be caught.

[Bitcoin_Arena]

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?

[Sanitough]

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

Then that is where insider information comes in, and in my opinion, that would be another illegal act.

The real winners in these prediction markets are probably the people who have access to actual information. In some ways, that could be worse than rigging a sports game because game manipulation can sometimes be noticed more easily.

With insider information, it is much harder to prove. Most of the time, people can only speculate or become suspicious. Usually, only those who are careless or too obvious with their bets get caught, while others may continue making easy money from information that remains hidden or difficult to verify.

[Cantsay]

What really surprised me is that they found out he actually make money out of those information he got huh, I guess he isnt that bright enough. If I were him then I probably gonna let someone close to me to do all those betting for me then split it half instead of making it myself

Well, things like this usually don't go well, because any little thing or if greed sets in, it could make the other party leak everything about your transaction with them and put you in trouble. This might be what he considered and then just decided to do it his way, but he wasn't smart enough and left things that enabled them to link it to him.

Or, it could be that he was just greedy and didn't want to share with anyone and thought he could keep everything to himself if hr did it himself, and thus why he did it personally. Just my speculation, though.

[Questat]

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

It is known that Trump's family have made substantial wealth from prediction market and some crypto industries so I guess if a person close to him will make use of the influence of Trump, then making money from prediction market would be easier.

Well, who doesn't want to make a fortune. Of course, I will definitely do the same just to secure my fortune.

[AVE5]

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.”

The common issue for the gambling platform to hold against the Trump aid is because since he's working for the government officials, he can be assumed to use an insider influence to take advantage to bet on the market that they are already aware of the outcome.
I'm very satisfied that Donald himself single handedly voided the allegation but I don't trust his judgement entirely to be fair but this lesson should also let us know how the casino's has  been bullying us average citizens. We all know that in most cases like this the judgement usually favours the betting companies while players have very less advantage to beat the house even when you're innocent.

[Cointxz]

Why not stop betting on bullshit offer like this that is prone to manipulation instead of questioning these people with inside knowledge on options that they have advantages.

I never placed any bet on this prediction market for that specific reason  that it can be a trap especially the odd being offered on things that seems not possible yet it can be done intentionally for the sake of winning the bet.

Remember, that all this betting option is the product of gambler own greediness.

[Hispo]

One needs to be very bored if one has decided it is a good idea to bet on what Trump or Elon Musk may say during their addressing to public, as of there are not enough markets to wager one's money in already.

Anyways, I assume that man already lost his long time job, because of his greed, obviousy he thought he would not be caught red-handed, but obviously, his consistency on those markets and the amounts of money he managed to pocked allerted the system of Kalshi and so the federal government also got allerted.

It is also funny how Trump calls such incident to be disgrace, when he has also abused his position of power or position having privileged information to get money.

[iv4n]

"Our surveillance team promptly flagged and referred these trades to the CFTC, and we are cooperating and assisting regulators," Kalshi's head of enforcement, Bobby DeNault, said in a statement provided to ABC News."

How did that happen? How did they catch him? Oh wait, he probably didn't lose a single bet... Imagine someone betting on these crazy markets and winning all the time? They don't even need to think twice about it, insider trading at its best...

And somehow I am sure nobody is surprised here... this is just the beginning. The question is not whether there is insider trading on these prediction markets... the question is only who will get caught.

[Sammye3]

Though the use of information before announcement has indirect impact like creating an unfair advantage but it does not in any manner affect the economy of the country directly. The teleprompter operator was placed on unpaid administrative leave which did not seem like the best approach for such situation because Trump in question has abused his power in so many ways than the usual. It is sad that this man would lose a good paying job in the White house for using an information he has leverage over.