Trump teleprompter operator made $100K betting on Kalshi markets

[nikola22]

Now is the time when prediction markets allow absolutely anyone on earth to make money if they have inside knowledge or are cunningly able to manipulate information. Remember that funny guy who used a hair dryer to insulate the weather indicators and made money on it. Or the military man who flew to capture Maduro. Everyone wants money, but it's not just Trump who is absolutely calmly managing the situation on the planet to his advantage. It looks like life is a game for him.
And now he has only one goal, it's to earn more bonus points in this fun game.

Yes, but all these people who either manipulated outcomes or possessed insider information were eventually found. the prediction market platforms themselves want third parties to place bets and roll out more and more measures to identify insiders. some people say they'll soon add verification but I think this will be a disadvantage for the platforms.

[OgNasty]

Now is the time when prediction markets allow absolutely anyone on earth to make money if they have inside knowledge or are cunningly able to manipulate information. Remember that funny guy who used a hair dryer to insulate the weather indicators and made money on it. Or the military man who flew to capture Maduro. Everyone wants money, but it's not just Trump who is absolutely calmly managing the situation on the planet to his advantage. It looks like life is a game for him.
And now he has only one goal, it's to earn more bonus points in this fun game.

Yes, but all these people who either manipulated outcomes or possessed insider information were eventually found. the prediction market platforms themselves want third parties to place bets and roll out more and more measures to identify insiders. some people say they'll soon add verification but I think this will be a disadvantage for the platforms.

They might have been found, but was any real action taken? Sure, they get penalized at their job or whatever, but I don’t think they face criminal charges or have to give any money back. They need some sort of regulation and clear rules to reduce this sort of thing in the future. Otherwise, people will probably feel like the punishment is worth committing the crime (or lack thereof).

[Ronsbit]

Funny that anyone who prepares speech for Trump for his public appearance and announcements can use it to earn in prediction market. This time teleprompter operator got caught. What about person who gave text to teleprompter? What about other stuff that were working on the set and could also see the text? All of them are potential inside information users. Should then any person who is around Trump be prohibited to place predictions?

It is funny how Trump and his aides are all caught up in the prediction market saga. Majority of the prediction market leakage has been from the President's cabinet all acting on inside information. No doubt about what you have said, maybe they should investigate them too there is every possibility of them leaking information to their cronies who will on return reward them for their information just to cover their identity.

[Satofan44]

They might have been found, but was any real action taken? Sure, they get penalized at their job or whatever, but I don’t think they face criminal charges or have to give any money back. They need some sort of regulation and clear rules to reduce this sort of thing in the future. Otherwise, people will probably feel like the punishment is worth committing the crime (or lack thereof).

While someone is making small profits using insider information with no harm to anyone else, have the Democratic scum been severely punished for all their past violations? It seems that most people, including you, let yourself easily be fooled and directed to worry about problems that are minor in comparison while the real evil on a much bigger scale is being committed simultaneously. Whether it is Epstein, where the number of victims is not even 0.001% of the total victims in the same time period, or whether it is Trump insiders making some profit -- you all easily fall for misdirection. Any violations of insider information around Trump are a mere drop in the bucket compared to the violations that Democrats have been consistently committing in the last decade, while simultaneously pretending to be the nice and honest people. 

Funny that anyone who prepares speech for Trump for his public appearance and announcements can use it to earn in prediction market. This time teleprompter operator got caught. What about person who gave text to teleprompter? What about other stuff that were working on the set and could also see the text? All of them are potential inside information users. Should then any person who is around Trump be prohibited to place predictions?

It is funny how Trump and his aides are all caught up in the prediction market saga. Majority of the prediction market leakage has been from the President's cabinet all acting on inside information. No doubt about what you have said, maybe they should investigate them too there is every possibility of them leaking information to their cronies who will on return reward them for their information just to cover their identity.

What kind of 3rd world radical nonsense is this, guilty until proven innocence? Punish people simply for being in positions of power and having information that you don't have? An investigation on an innocent person is a punishment, it does not make sense. Only when there is a reasonable basis for suspicion in terms of violations relating to insider information and prediction market should an investigation be launched. Simply having access to information isn't proof that somoene did something illegal.

[Sticky Bomb]

Funny that anyone who prepares speech for Trump for his public appearance and announcements can use it to earn in prediction market. This time teleprompter operator got caught. What about person who gave text to teleprompter? What about other stuff that were working on the set and could also see the text? All of them are potential inside information users. Should then any person who is around Trump be prohibited to place predictions?

They all make money on it. The difference is some are too greedy and play with a size that gets noticed and some just play it with small size that will never draw any attention but consistently provides additional bread to their families.

Technically both are involved in illegal activities but in such cases it's ethics what matters.

This is still very possible that they all do the same thing but this Teleprompter got greedy and wanted a larger win for himself and drew much attention in the end. Maybe others cash out with it indirectly by betting with proxies and getting a fair share of their wins, anything is possible. My people say that the person caught at the pepper tree illegally plucking it is the thief, others who have plucked and gone are smart. There might still be a lot of culprits in this, but they are very smart with their dirty practices.

[Zadicar]

Funny that anyone who prepares speech for Trump for his public appearance and announcements can use it to earn in prediction market. This time teleprompter operator got caught. What about person who gave text to teleprompter? What about other stuff that were working on the set and could also see the text? All of them are potential inside information users. Should then any person who is around Trump be prohibited to place predictions?

They all make money on it. The difference is some are too greedy and play with a size that gets noticed and some just play it with small size that will never draw any attention but consistently provides additional bread to their families.

Technically both are involved in illegal activities but in such cases it's ethics what matters.

This is still very possible that they all do the same thing but this Teleprompter got greedy and wanted a larger win for himself and drew much attention in the end. Maybe others cash out with it indirectly by betting with proxies and getting a fair share of their wins, anything is possible. My people say that the person caught at the pepper tree illegally plucking it is the thief, others who have plucked and gone are smart. There might still be a lot of culprits in this, but they are very smart with their dirty practices.

If you do give out importance or value into your work and doesnt want to put up some risks on losing it, then you would definitely be thinking up twice or thrice before you would be doing such more. It would be that too impossible for that guy wont be able to think off about into the possibilities for things to be known once he would be making use of these informations at his advantage specially on betting up into something on which he had that directly access since he's a worker of such field on which it is that really a gateway on making easy money via doing those bets on which it would be that totally that too numb of you not to think that you would be able to caught or discovered about doing up such thing. You do let your carelessness would really put you up in trouble but if you are someone whose been thinking ahead then you would definitely use up some proxies.

[TopTort777]

Lol, what a story. Everyone who is close to Trump and his family are earning by insiders trading and betting on prediction markets, but they found one poor teleprompter guy who is to be punished indicatively How this dude even managed to profit from such insiders info? With one hand rotate screen with text and make it flow, with other hand place bets on his mobile? As well as be able to both do his job, read text and find indicators that will hint on what to bet on? I think that dude got bored at work, tried to do multitasking but got punished for that.

[hedgeh0g]

Everyone is taking their own share from the prediction market using whatever information they have their hand on to make money; it’s like extra pay for them. There is a saying in my locale, "Everybody nah saint, but nah who dem catch be sinner," meaning everyone appears innocent; it’s the person that gets caught that appears as a bad person. We should not be surprised if some of Trump's family members are also taking advantage of this trend on the prediction market. Insider trading is so popular now.

Even Trump himself has already earned more money in his two years in office than in all previous years. It feels like he's trying to monetize absolutely everything. What's amazing is that the whole world sees this and now everyone wants to enrich themselves as soon as possible, at least through the forecasting markets. This is the right desire, but how possible is it?
Everyone is trying to find loopholes in their profession and make money from it. I can only say for sure that the creators of such crypto platforms will need to do a lot more work from prediction, creating new rules and regulations.

[Hispo]

Lol, what a story. Everyone who is close to Trump and his family are earning by insiders trading and betting on prediction markets, but they found one poor teleprompter guy who is to be punished indicatively How this dude even managed to profit from such insiders info? With one hand rotate screen with text and make it flow, with other hand place bets on his mobile? As well as be able to both do his job, read text and find indicators that will hint on what to bet on? I think that dude got bored at work, tried to do multitasking but got punished for that.

This is just a very good example how those who have political connections and power can easily avoid law and pocket millions of dollars with no legal consequences, but if someone who is just an average guy tries to do the same, they will have them punished with all the weight of the law. Basically,in the United States there is a two tier justice system, as it is mentioned as political analyzers and commentators.

He did not get bored, he just got greedy after seeing how there were so many people around him making money easily, he did not want to be the only clown in the room taking absolutely nothing.

[sergiorus]

Lol, what a story. Everyone who is close to Trump and his family are earning by insiders trading and betting on prediction markets, but they found one poor teleprompter guy who is to be punished indicatively How this dude even managed to profit from such insiders info? With one hand rotate screen with text and make it flow, with other hand place bets on his mobile? As well as be able to both do his job, read text and find indicators that will hint on what to bet on? I think that dude got bored at work, tried to do multitasking but got punished for that.

Probably had access to the texts a few minutes before and hence had some time to place bets.

Of course they won't let outsiders take a piece of cake large enough to, but I'm sure no one would care if he played with modest size.

The article didn't mention how long it took him to earn $100k this way but even if it took a year, that's probably more than his salary.

And let's be honest, the fact that politicians take money from ordinary people via insider trading doesn't mean we should look away when their servants do the same.

[Fortify]

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.”

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

Kalshi is clearly trying to gain favor with the regulator, especially as they and other "prediction markets" are currently in the cross hairs of the regulator after some of the frankly scandalous insider trading that has been done on them. These would be seen as regular betting (albeit not focused on sports) under any other administration and president, with the regulator taking much more interest in the situation. However Trumps lawless government has been all over the place, cutting jobs in important places while leaving massive corruption in others. The idea must be that if no one can focus on any single story which would have caused resignations out of shame in the past, if everywhere is on fire then people just stop paying attention. It's an absolute clown show.

[nikola22]

They might have been found, but was any real action taken? Sure, they get penalized at their job or whatever, but I don’t think they face criminal charges or have to give any money back. They need some sort of regulation and clear rules to reduce this sort of thing in the future. Otherwise, people will probably feel like the punishment is worth committing the crime (or lack thereof).

I think a lot depends on the status of the person who placed bets on the prediction markets using his position. the soldier who bet on the invasion to Venezuela faces serious punishment:

Van Dyke, 38, of Fayetteville, North Carolina, is charged with three counts of violating the Commodity Exchange Act, each of which carries a maximum sentence of 10 years in prison; one count of wire fraud, which carries a maximum sentence of 20 years in prison; and one count of an unlawful monetary transaction, which carries a maximum penalty of 10 years in prison.

https://www.justice.gov/opa/pr/us-soldier-charged-using-classified-information-profit-prediction-market-bets

he didn't give back money but the return will likely be a part of bargain in court to mitigate the sentence and reduce it.

the person who heated up the thermometer at the airport to win the temperature forecast market will probably get off with just a fine. they'll probably monitor bets more closely in the future to reduce insider trading and manipulation.

[bhadz]

Lol, what a story. Everyone who is close to Trump and his family are earning by insiders trading and betting on prediction markets, but they found one poor teleprompter guy who is to be punished indicatively How this dude even managed to profit from such insiders info? With one hand rotate screen with text and make it flow, with other hand place bets on his mobile? As well as be able to both do his job, read text and find indicators that will hint on what to bet on? I think that dude got bored at work, tried to do multitasking but got punished for that.

Maybe before Trump gives his speeches, he's given the script of what he'll say. So, beforehand, the actual speech, he's got that info firsthand. But I get it that he's in the headline with how much he's earned, and IMHO Trump calling it a disgrace is an irony. Everyone who's in the circle of Trump has earned so much and not only from the crypto market but also in the predictions market. Would it be that he's just the fall guy in all of these known insiders in the prediction markets so that it would be said that something has been done?

[Patikno]

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

Essentially, a situation where a prediction bet that can still be controlled by humans can still be manipulated or abused, as you said. Ironically, these possibilities are still wide open, making the betting market appear unfair. In my opinion, prediction markets should have specific regulations regarding bet predictions that can be rigged, and they should prioritize betting markets; that cannot be controlled by humans (such as; natural phenomena that occur beyond human control). Cmiiw.

[Hispo]

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

Essentially, a situation where a prediction bet that can still be controlled by humans can still be manipulated or abused, as you said. Ironically, these possibilities are still wide open, making the betting market appear unfair. In my opinion, prediction markets should have specific regulations regarding bet predictions that can be rigged, and they should prioritize betting markets; that cannot be controlled by humans (such as; natural phenomena that occur beyond human control). Cmiiw.

If there are markets focused on people like Elon Musk and Donald Trump, it is because there is a clear demand for those markets to exist in the first place, so even if Polymarket decided not to offer them any longer, it would be just matter of time because they are offered on other websites.
Regulation would certainly kill markets on the main websites which focused on people, but markets which could be abused with privileged information would prevail.
For example, there would continue to be markets about interest rates, passing of laws and I flatiron reports,.those markets cannot be controlled by a single entity, but information can be trafficked and abused.

[TopTort777]

Lol, what a story. Everyone who is close to Trump and his family are earning by insiders trading and betting on prediction markets, but they found one poor teleprompter guy who is to be punished indicatively How this dude even managed to profit from such insiders info? With one hand rotate screen with text and make it flow, with other hand place bets on his mobile? As well as be able to both do his job, read text and find indicators that will hint on what to bet on? I think that dude got bored at work, tried to do multitasking but got punished for that.

Probably had access to the texts a few minutes before and hence had some time to place bets.

Of course they won't let outsiders take a piece of cake large enough to, but I'm sure no one would care if he played with modest size.

The article didn't mention how long it took him to earn $100k this way but even if it took a year, that's probably more than his salary.

And let's be honest, the fact that politicians take money from ordinary people via insider trading doesn't mean we should look away when their servants do the same.

To be honest, does this case even look like use of insiders information? If Trump press secretary announce that tomorrow he will call an urgent meeting to speak about situation with Iran, then it wont be a secret, that depends on Trump recent mood, he will again talk about truce and give Iran "last chance to..." and oil prices would go down, or again will try to scare them with "sending even more rockets" and oil prices would go up.

[alani123]

The Trump administration has made it clear that only Trump and Co. can perform insider trading without any consequences. Of course if a teleprompter operator makes a measly 100k that doesn't even buy you a shack these days in the USA and has a Hispanic surname he has to be made into an example. Leave the accounts making millions on polymarket predicting markets of the same category right 99% of the time. These make perfect sense. The little guy making a small buck surely is at fault here. Also leave alone the fact that prediction markets are basically operating on trading insider intel and never take action against these people themselves...

[nikola22]

Updated information:

A White House teleprompter operator accused of using inside knowledge to profit from prediction market bets on President Donald Trump’s speeches no longer works for the federal government. A White House official said on Tuesday that Gabriel Perez, who had been placed on unpaid leave earlier this month, is no longer employed by the federal government but declined to say whether he resigned or was fired.

https://apnews.com/article/white-house-teleprompter-operator-kalshi-3579ee3cf7265d0fc7cf8b2152b40b02

that's how they got rid of the man so that he wouldn't disgrace the great Trump and his entourage.

[DrBeer]

The Trump administration has made it clear that only Trump and Co. can perform insider trading without any consequences. Of course if a teleprompter operator makes a measly 100k that doesn't even buy you a shack these days in the USA and has a Hispanic surname he has to be made into an example. Leave the accounts making millions on polymarket predicting markets of the same category right 99% of the time. These make perfect sense. The little guy making a small buck surely is at fault here. Also leave alone the fact that prediction markets are basically operating on trading insider intel and never take action against these people themselves...

I’ll start with something not so important
100k in the U.S. really isn’t much-it’s the price of a run-down 100-square-meter house in some depressed region or city, like Detroit. But... offer that to a resident of any third-world country, or even neighboring countries on other continents, like Mexico, the Dominican Republic, Ecuador, Costa Rica... - and 100K would be greatly appreciated
The main thing: who said this was his first time earning money this way? This one just happened to become public knowledge.
And the fact that he was "taken down" most likely suggests that this model had been operating for a long time; he just happened to "expose the scheme". Can you imagine the scale of operations at another level if the tipster was able to make 100K dollars in an instant?

As for Polimarket-of course, Trump and his crew will do everything they can to block Polimarket because… money is flowing out of Trump’s pocket And soon he’ll launch a paid subscription service for government insider info, and everyone will have to buy information only there and funnel money only to Trump, instead of straying off to some Polimarket!
P.S. I think we’ll hear pretty soon that this poor soul who made $100K will either accidentally get hit by a car, or a "sudden and brief illness" will strike him....
 

[sompitonov]

The Trump administration has made it clear that only Trump and Co. can perform insider trading without any consequences. Of course if a teleprompter operator makes a measly 100k that doesn't even buy you a shack these days in the USA and has a Hispanic surname he has to be made into an example. Leave the accounts making millions on polymarket predicting markets of the same category right 99% of the time. These make perfect sense. The little guy making a small buck surely is at fault here. Also leave alone the fact that prediction markets are basically operating on trading insider intel and never take action against these people themselves...

Even if he's found and punished, it won't change anything. It's important to take a broader view of the problem, for example, realizing that insider trading is rampant in prediction markets, and many have already made fortunes from it. But by the time they start regulating it too strongly, it will be too late. I long ago realized that I don't intend to participate in these prediction markets or compete with insiders, because they have an advantage, while I don't, so I'll avoid these sites. I'm just curious how this will ultimately end, although many insiders have closed their accounts and will never be discovered.