Here’s what happened.
A White House employee with advance access to President Donald Trump’s prepared speeches has been placed on paid administrative leave amid allegations that he used that information to make tens of thousands of dollars on a prediction market.
Trump has been briefed on the controversy and strongly condemned the staffer’s alleged actions, according to White House press secretary Karoline Leavitt.
The president himself has not been accused of placing wagers, receiving money or participating in the alleged activity. The developing financial scandal centers on a teleprompter operator who has reportedly worked with Trump since 2016.
White House Responds to Serious Allegations
Leavitt addressed the controversy during Thursday’s White House press briefing. She confirmed that both she and Trump were aware of the report.
According to Leavitt, the president considered the alleged behavior deeply unfortunate and disgraceful.
The employee was immediately placed on paid administrative leave while federal authorities examine the situation. Leavitt also confirmed that a different teleprompter operator would be assigned to Trump’s Thursday evening speech.
The response indicates that the White House is treating the allegations seriously while waiting for investigators to determine whether any laws or government ethics requirements were violated.
Trump Teleprompter Operator Identified in Report
ABC News first reported that the employee under scrutiny was Gabriel Perez, who sources identified as Trump’s teleprompter operator since 2016.
Federal investigators are reportedly examining whether Perez earned tens of thousands of dollars by wagering on the contents of Trump’s speeches through Kalshi, an online prediction market.
Prediction markets allow participants to buy and sell contracts based on the expected outcome of future events. In this case, the wagers reportedly involved words and topics that could appear in presidential remarks.
A teleprompter operator may have access to prepared speech material before the president delivers it publicly. That possibility is at the heart of the investigation.
Perez has not been publicly charged with a crime, and the allegations have not been proven in court.
Kalshi Detected Suspicious Trading Activity
The controversy reportedly began in March when Kalshi’s surveillance system detected a series of unusual trades.
According to the company, the wagers involved markets tied to specific words or phrases that Trump might use during public appearances. The activity allegedly differed from ordinary trading patterns and attracted additional attention after market makers filed complaints through Kalshi’s whistleblower channels.
An internal review reportedly connected the trading account to a federal employee serving as a White House teleprompter operator.
Kalshi then froze the account before most of the alleged profits could be withdrawn. The company said more than $90,000 remained on the platform when the matter was referred to the Commodity Futures Trading Commission.
Prediction Market Cooperates With Regulators
Robert DeNault, Kalshi’s head of enforcement, said the company quickly referred the suspicious trades to federal regulators after completing its own exchange investigation.
Kalshi reportedly turned over the evidence it collected and has continued assisting regulators during the months-long inquiry.
A CFTC spokesperson would neither confirm nor deny the existence of an investigation. Federal agencies frequently avoid discussing potential enforcement matters before formal action is announced.
The lack of public confirmation does not establish that wrongdoing occurred. It means the complete facts—and any possible consequences—have yet to be made public.
White House Emphasizes Ethics Standards
White House spokesman Davis Ingle said the administration maintains strict ethics guidelines for its employees and officials.
Ingle also said the staffer at the center of the controversy is cooperating fully with the CFTC.
The administration’s response appears designed to make two points clear: The alleged conduct will not be excused, and Trump is not accused of participating in it.
For many Americans, especially voters tired of questionable conduct in Washington, accountability will be the most important issue. Government employees who receive advance information through their jobs are expected to handle that access responsibly—not use it as a potential path to personal profit.
Did the Bets Involve Classified Information?
Kalshi said the disputed wagers did not involve classified documents or sensitive national security intelligence.
Instead, the prediction markets reportedly covered familiar words and subjects commonly found in political speeches. These included:
- Country names
- Economic terminology
- Campaign-related language
- Domestic and social issues
That distinction is important. There is currently no allegation that military plans, intelligence reports or classified government secrets were compromised.
However, information does not necessarily need to be classified to raise ethical questions. If an employee used advance knowledge unavailable to ordinary traders, regulators could examine whether that access created an improper financial advantage.
Why This Investigation Matters
The case could have consequences extending beyond a single White House employee.
Prediction markets have grown increasingly popular, allowing users to wager on elections, economic developments, government decisions and other public events. As these platforms expand, regulators and market operators face growing pressure to prevent trading based on confidential or nonpublic information.
The investigation could also prompt the Trump administration to review how presidential speeches are prepared and distributed.
Possible safeguards could include limiting early access to speech materials, maintaining stronger access records and establishing clearer restrictions on wagering connected to government information.
No Allegation of Wrongdoing Against Trump
Despite the headline-making connection to the president, the available report does not accuse Trump of financial misconduct.
Trump has not been accused of placing the wagers, directing the alleged trades or receiving any of the suspected profits. The accusations concern a staff member who allegedly had advance access to the president’s prepared remarks.
That distinction is essential as the investigation moves forward.
The White House says it has taken administrative action, the employee is cooperating and Kalshi has provided its findings to regulators. It will now be up to federal authorities to decide whether the evidence warrants formal enforcement action.
Until then, the allegations remain under investigation.
Frequently Asked Questions
Who is accused of betting on Trump’s speeches?
Sources identified the employee as Gabriel Perez, a White House teleprompter operator who reportedly worked with Trump beginning in 2016.
How much money was allegedly involved?
The staffer allegedly made tens of thousands of dollars. Kalshi said more than $90,000 remained frozen on the platform before most of the suspected proceeds could be withdrawn.
Was President Trump involved?
There is no reported allegation that Trump placed bets, directed the trades or benefited financially. The White House says he condemned the alleged conduct.
Did the wagers involve classified information?
Kalshi said the markets involved ordinary words and political topics—not classified or sensitive national security material.
Has the employee been charged?
No public criminal charge was mentioned in the report. The allegations remain unproven, and the CFTC has declined to confirm or deny an investigation.
