A probe has been launched into Gabriel Perez, the long-time teleprompter operator for US President Donald Trump, over allegations of insider trading.
According to CNN, the US Commodity Futures Trading Commission (CFTC) is investigating Perez’s trades on a prediction market called Kalshi.
Sources familiar with the investigation say Perez made bets on the words or phrases Trump would use in his speeches, which he had access to before they were made public.
Perez is one of the few people who get to see Trump’s speeches before they are delivered, raising concerns that he may have misused confidential information.
Sources say Perez made over $90,000 from these trades, which have now been frozen.
Kalshi’s compliance team detected suspicious activity and reported it to the CFTC, which has been investigating since.
The company says it is cooperating fully with the investigation.
The CFTC has not confirmed or denied whether an investigation is underway.
Trump has been informed of the allegations and considers them unfortunate and embarrassing, according to White House Press Secretary Karine Jean-Pierre.
Perez has been placed on unpaid administrative leave, and another person will operate the teleprompter for Trump’s next speech.
Earlier this year, the White House issued a directive prohibiting staff from using non-public government information for personal gain.
Perez has been working closely with Trump for nearly a decade and is one of the few aides who get to review Trump’s speeches before they are delivered.
His annual salary is $175,000.
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