Betting on what people say is becoming an increasingly popular category of prediction market sites. Now, federal officials have opened a probe examining whether those markets are a magnet for manipulators.
AI:Federal regulators have launched a formal probe into "mention markets," a burgeoning sector of prediction platforms where users wager on public statements and social media trends, amid growing concerns regarding market manipulation. This investigation follows intense scrutiny over the Kalshi controversy and represents yet another instance of federal agencies targeting emerging financial tools that bypass traditional gatekeepers. While leftist outlets like NPR attempt to frame these probes as necessary oversight to prevent fraud, they are effectively masking a coordinated regulatory crackdown on decentralized platforms that provide transparent, real-time gauges of public sentiment. By focusing on the potential for manipulation in "mention…Open
Gabriel Perez, the White House technical assistant who has loaded President Trump's teleprompter since the 2016 campaign, is under federal investigation for allegedly turning his advance access to presidential remarks into a six-figure payday on a prediction market, and the president himself called the scheme a "disgrace." The Commodity Futures Trading Commission is probing whether […] The post Trump's teleprompter operator placed on leave after allegedly pocketing $100K betting on presidential speeches appeared first on American Almanac .
Gabriel Perez, the White House technical assistant who has loaded President Trump's teleprompter since the 2016 campaign, is under federal investigation for allegedly turning his advance access to presidential remarks into a six-figure payday on a prediction market, and the president himself called the scheme a "disgrace." The Commodity Futures Trading Commission is probing whether Perez placed bets on more than a dozen Trump speeches over a three-month stretch, wagering on Kalshi's "Mentions" market, where users bet on whether specific words, phrases, or topics will come up during a public address. ABC News reported that Perez is believed to have won more than $100,000 using inside knowledge of the president's prepared text. The White…Open
The prediction market platform Kalshi said Thursday that it flagged suspicious trades on President Trump’s speeches to federal regulators that are reportedly connected to the president’s longtime teleprompter operator. ABC News reported that Gabriel Perez, who was first hired by Trump in 2016, is in settlement talks with the Commodity Futures Trading Commission (CFTC) over allegations that he used inside knowledge about the president’s remarks to place wagers on Kalshi. #kalshi #trump #insidertrading
Federal regulators are investigating whether a White House teleprompter operator capitalized on his knowledge of President Trump's prepared speech text by making trades on the prediction market Kalshi, according to two sources familiar with the matter. - The speeches the person allegedly traded on included the State of the Union in February. Why it matters: The rise of prediction markets has raised concerns about insider trading , which Kalshi and federal regulators say they're well positioned to combat. Driving the news: Gabriel Perez, the teleprompter operator, is under investigation by the Commodity Futures Trading Commission over the allegations that he bet on Kalshi "mention markets" using information on Trump's planned remarks,"…
Last year, the powerful agency overruled its enforcement attorneys and killed a separate inquiry into whether the company was illegally serving U.S. customers.
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