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A White House teleprompter operator is under investigation over allegations he used inside knowledge of <a href="https://www.thestreet.com/crypto/tag/donald-trump" rel="noopener noreferrer nofollow">President Donald Trump</a>'s speeches to place winning bets worth nearly $100,000, according to reports first published by <a href="https://abcnews.com/US/white-house-teleprompter-operator-made-100k-betting-trumps/story?id=134764573" rel="noopener noreferrer nofollow">ABC News</a> and later confirmed by CBS News, the BBC's U.S. partner.
Gabriel Perez, who has worked at the <a href="https://www.thestreet.com/crypto/policy/white-house-reportedly-hit-with-key-exit-at-critical-moment" rel="noopener noreferrer nofollow">White House</a> since 2016, is accused of betting on specific words Trump would use during major public addresses, including the State of the Union.
The trades were placed on Kalshi, a <a href="https://www.thestreet.com/crypto/tag/prediction-market" rel="noopener noreferrer nofollow">prediction markets platform</a> where users can bet on real-world events.
<a href="https://www.thestreet.com/crypto/markets/veteran-investor-says-crypto-could-create-more-wealth-than-worlds-top-billionaires-combined" rel="noopener noreferrer nofollow">Related: Veteran investor says crypto could create more wealth than world's top billionaires combined</a>
<h2 id="how-the-bets-were-caught">How the bets were caught</h2>
Kalshi <a href="https://www.bbc.com/news/articles/cjrvdqyr5d5o" rel="noopener noreferrer nofollow">told the BBC </a>its analysts noticed unusual activity in March on its "mention markets," where users predict whether a speaker will use certain terms, such as country names or economic phrases.&nbsp;
"The words of political leaders like Presidents and Fed chairs cause billions of dollars of movement in FX markets, <a href="https://www.thestreet.com/crypto/markets/latest-u-s-iran-conflict-sends-oil-up-and-crypto-tumbling" rel="noopener noreferrer nofollow">oil futures, and the stock market</a>," Kalshi said.
<h3 id="trending-on-thestreet-roundtable">Trending on TheStreet Roundtable:</h3>
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Using account data, <a href="https://www.thestreet.com/crypto/tag/kalshi" rel="noopener noreferrer nofollow">Kalshi</a> identified the user as a federal employee operating White House teleprompters and froze more than $90,000 before it could be withdrawn. Robert DeNault, Kalshi's head of enforcement, said the firm flagged the trades and handed evidence to the <a href="https://www.thestreet.com/crypto/tag/commodity-futures-trading-commission" rel="noopener noreferrer nofollow">Commodity Futures Trading Commission</a>, which regulates the platform.
<h2 id="what-happens-next">What happens next</h2>
White House Press Secretary Karoline Leavitt confirmed Trump was aware of the matter, saying Perez has been placed on unpaid leave and will no longer work at the White House.&nbsp;
According to sources cited by ABC News, Perez has been "fully cooperative" with the <a href="https://www.thestreet.com/crypto/markets/top-futures-exchange-sues-regulator-over-crypto-product" rel="noopener noreferrer nofollow">CFTC</a>, and federal prosecutors in Manhattan declined to open a criminal case.
When contacted by TheStreet Roundtable for comment, a CFTC spokesperson said, "The CFTC can't confirm or deny an investigation."
<a href="https://www.thestreet.com/crypto/markets/analyst-flags-a-new-signal-in-bitcoin-options-as-price-holds-63k" rel="noopener noreferrer nofollow">Related: Analyst flags a new signal in Bitcoin options as price holds $63K</a>

Trump staffer accused of turning inside access into $100K

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