How Trump's speeches turned into a ₹86.73 lakh windfall for his teleprompter operator

Every time US President Donald Trump steps up to deliver a speech, millions tune in. But investigators now believe one insider may have been cashing in before Trump even said a word.

A White House teleprompter operator, identified as Gabriel Perez, is under investigation by the US Commodity Futures Trading Commission (CFTC) over allegations that he profited from prediction market bets linked to Trump's speeches.

According to ABC News, Perez allegedly placed wagers on Kalshi's prediction market, betting on specific words Trump would use during major public addresses, including the State of the Union address.

DO CHECKOUT | 'They better behave': Trump threatens energy targets as US hits Iran twice in one day near Hormuz

How did he allegedly make the money?

Kalshi said it froze more than $90,000 (₹86,73,075) in profits in a customer's account after Perez allegedly used confidential information to make over $100,000 (₹96,36,550) through bets placed on the platform.

The company then alerted the CFTC about suspicious activity on its "Mentions" market, where users bet on whether particular words, phrases or topics will appear in a speech. The CFTC considers Kalshi a derivatives exchange subject to its jurisdiction.

According to investigators, Perez allegedly placed bets on more than a dozen Trump speeches over three months. These included the December primetime address, Trump's speech at the World Economic Forum in Davos in January, and his remarks at a Medal of Honour ceremony in March.

MUST READ | 'Trump whisperer' Lindsey Graham dies at 71: FBI involved as assassination conspiracy theories flood online

What did Kalshi say?

"Our surveillance team promptly flagged and referred these trades to the CFTC after an exchange investigation. We have been assisting regulators on this matter and provided evidence we collected, as we do in any referral," Bobby DeNault, Head of Enforcement, Kalshi, said.

Who is Gabriel Perez?

Perez has worked as a White House teleprompter operator since Trump's first term began in 2016. He is considered one of Trump's most trusted aides and is believed to be the last person to review nearly all of the US President's remarks before they are delivered.

He is also known for making last-minute changes to prepared speeches at Trump's direction. Perez previously faced Congressional and federal scrutiny over changes made to Trump's remarks before his speech following the 2021 US Capitol attack.

($1 = ₹96.37 at the time of writing the story)