Perez, who earns an annual salary of $175,000, has served as a fixture of the president's production team since the initial 2016 campaign. The scheme unraveled after Kalshi’s surveillance systems flagged a series of unusual trades in “mention markets” linked to specific vocabulary used in Trump’s addresses. According to Robert DeNault, head of enforcement at Kalshi, the platform’s internal investigation identified a federal employee behind the activity and subsequently froze more than $90,000 in account funds before the profits could be withdrawn.
White House press secretary Karoline Leavitt addressed the matter during a Thursday briefing, describing the situation as a disgrace. While Perez is currently cooperating with Commodity Futures Trading Commission investigators, the incident highlights the growing risks associated with the rapid rise of prediction markets. These platforms have faced intense regulatory pressure to police the use of material nonpublic information, a challenge underscored by recent high-profile referrals involving former officials and military personnel. The CFTC has declined to publicly confirm the specific status of its investigation into the operator.
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