WASHINGTON — A White House employee entrusted with presidential communications is out of a job after an insider trading scheme involving advance knowledge of speeches raised serious questions about vetting and ethical standards within the executive branch.
A White House official, speaking on condition of anonymity, confirmed Tuesday that teleprompter operator Gabriel Perez “no longer works in the federal government.” The official declined to specify whether Perez resigned or was terminated. The removal follows an earlier suspension without pay after reports detailed how Perez allegedly profited from his sensitive position.
Exploiting Access for Profit
The scheme centered on Kalshi’s “Mentions” market, a prediction platform where users wager on specific words or phrases public figures will use in addresses. With direct access to advance speech drafts, Perez was positioned to make highly informed bets. Reports indicate he netted over $100,000, including wagers placed on President Trump’s State of the Union address.
White House Press Secretary Karoline Leavitt had called the matter “deeply unfortunate and, frankly, a disgrace.” Kalshi’s head of enforcement, Robert Denault, stated the platform’s surveillance team flagged the irregular trades and referred the case to the U.S. Commodity Futures Trading Commission. Kalshi recently mandated user disclosures of employment information and bars betting based on privileged information gained on the job.
The incident spotlights the porous boundary between unelected government staffers and the booming online prediction market industry, where inside information can be rapidly monetized. For American workers, such breaches erode confidence in the integrity of federal service at a time when public trust in institutions demands reinforcement, not further corrosion.
“The American taxpayer funds these positions expecting loyalty to the Republic, not personal enrichment through the exploitation of confidential briefings.”
The White House has not disclosed whether internal access protocols for support staff have been revised in the wake of Perez's departure.