Kalshi Warns Users After CFTC Punishes a White House Staff
Kalshi and the Commodity Futures Trading Commission (CFTC) both punished a White House teleprompter operator on Friday. Gabriel Perez had bet on Trump's speech text before the president read it out loud.
Perez gave up $107,539.02 in profit. He paid a $65,000 fine on top. He cannot trade for three years.
Why the White House Staffer's Fine Came In So Low
The CFTC discounted the fine and said so in the order. It credited what it called exemplary cooperation.
"Under the order, Perez must disgorge the profits he made from his unlawful trading totaling $107,539.02 and pay a civil monetary penalty of $65,000, representing a substantial discount…because of Perez's exemplary cooperation with the CFTC," read an excerpt in the order.
The last Kalshi case shows what that is worth. In July, the agency fined former congressman George Santos $17,500 and clawed back $17,569.98.
Santos paid roughly $1 in fines for every $1 he made. Perez paid about 60 cents.
Both men drew the same three-year ban. Their orders landed 28 days apart. On the Santos yardstick, Perez would have owed close to $107,000. He paid $65,000.
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