CFTC orders ex-White House aide to pay $172,000 over Kalshi trades
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The CFTC ordered former White House teleprompter operator Gabriel Perez to pay more than $172,000 to settle charges he used advance access to President Trump's speeches to profit on Kalshi mention markets. Perez must repay $107,539.02 in profits and pay a $65,000 civil fine, and is barred from trading on CFTC-registered entities for three years. The settlement follows a July 31 order against former congressman George Santos over Kalshi trades.
Key Facts
- Gabriel Perez was ordered to repay $107,539.02 in profits and pay a $65,000 civil fine.
- Perez traded on Kalshi between December 2025 and March 2026, reading Trump's prepared remarks roughly an hour before delivery.
- The CFTC credited KalshiEX for its assistance; Kalshi head of enforcement Robert DeNault said the exchange's surveillance unit caught the trading.
- On July 31, former congressman George Santos agreed to pay about $35,000 over Kalshi trades on a contract about State of the Union attendance.
- Federal prosecutors in May charged Google engineer Michele Spagnuolo with using internal search data to make about $1.2 million on Polymarket.
Settlement Terms
The CFTC ordered Perez to repay $107,539.02 in profits and pay an additional $65,000 civil fine. The order bars him from trading on any CFTC-registered entity for three years. Perez consented to the order without admitting the findings. The CFTC said he received a roughly 40% reduction of the civil penalty after he voluntarily sat for an interview and accepted responsibility, which the agency called "exemplary cooperation".
Trading Activity
Perez opened an account at Kalshi on Dec. 8, 2025, and traded between December 2025 and March 2026. He allegedly read Trump's prepared remarks roughly an hour before delivery and placed trades on Kalshi mention markets based on the words in the text. The commission found that Perez made $107,500 on prediction markets by betting on words and phrases that would appear in Trump's speeches between December 2025 and February 2026. A White House official said in July that Perez was no longer in his position but did not say if he had been fired or resigned.
Broader Enforcement Context
The Perez order is the agency's second event contract settlement since late July. On July 31, former congressman George Santos agreed to pay the CFTC about $35,000 over Kalshi trades on a contract asking who would attend February's State of the Union address. Both orders carry three-year trading bans, and both grew out of Kalshi referrals. Federal prosecutors in May charged Google engineer Michele Spagnuolo with using internal search data to make about $1.2 million on Polymarket, and the CFTC filed a parallel civil complaint. House Oversight Chairman James Comer opened a probe in May into insider trading controls at Kalshi and Polymarket.
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CFTC orders ex-White House aide to pay $172,000 over Kalshi trades
