Kalshi Insider-Trading Case Ends With $172,000 CFTC Penalty

The U.S. Commodity Futures Trading Commission on August 28 ordered former White House technical adviser and teleprompter operator Gabriel Perez to pay $172,539.02 and barred him from trading for three years over trades in Kalshi contracts tied to President Donald Trump’s speeches.

The payment comprises $107,539.02 in disgorged profits and a $65,000 civil monetary penalty, according to the CFTC’s announcement. The order resolves the agency’s action against Perez, whose access to confidential speech material preceded trades in contracts on which words or phrases would be spoken.

Penalty and trading ban

The CFTC’s August 28 order imposed a three-year trading prohibition on Perez and a separate $65,000 civil monetary penalty. The case concerned Kalshi prediction-market contracts, not trades in underlying securities or commodities traditionally associated with insider-trading cases. Those contracts asked whether specified terms would be uttered during Trump speeches, according to The Associated Press.

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