Kalshi says it caught Trump’s insider trading teleprompter

Kalshi users betting on what President Donald Trump will say during his speech are said to be up against a tough competitor: the president’s teleprompter operator.

ABC news reports that federal investigators believe Gabriel Perez – the teleprompter who runs Trump since 2016 – works a lot in making bets on Kalshi, a large market prediction platform that allows readers to bet on almost anything. One category that Kalshi offers is the “mention” market, where users try to predict what someone will say about a high-profile event.

Perez is accused of betting on what Trump will say at more than a dozen events, including his February State of the Union address, the Medal of Honor ceremony, and remarks at the World Economic Forum, according to ABC news. In all, Perez reportedly won more than $100,000 on Kalshi. Trump plans to give another speech Thursday night, saying he is focused on the election; Kalshi has several listed markets where users are betting on what to say and for how long.

“Our regulatory team promptly reported and referred the transaction to the (Commodity Futures Trading Commission) after investigating the exchange,” Robert DeNault, Kalshi’s chief security officer, said in an emailed statement. Seaside. “We have charged this person and we have been assisting the authorities in this matter and presenting the evidence we have collected, as we do in referrals.”

Kalshi did not respond for the record to questions about other bettors who bet in these markets and whether they would get their money back. Zach Fulton, a spokesman for the CFTC, said manages the prediction marketsHe said the agency cannot confirm or deny any investigation.

According to ABC newsThe CFTC and Perez have discussed how to resolve the case, including Perez returning what he earned and not making similar trades in the future. Federal prosecutors refused to open a criminal investigation, ABC news reports.

Last month, Kalshi established laws which requires users to disclose service information before they can bet on “high-risk or disruptive markets.”