The U.S. Commodity Futures Trading Commission ordered former White House publicity and technology adviser Gabriel Perez to pay $172,539 in sanctions for insider trading on Kalshi, a regulated prediction market platform. The enforcement action, announced this week, marks the CFTC’s second case involving a government employee accused of leveraging nonpublic information to trade event-based contracts. Perez exploited his job-related access to review drafts of President Donald Trump’s speeches roughly an hour before they were delivered. From December 2025 through February 2026, Perez traded on Kalshi’s "Mention Market" contracts, which pay out based on whether specific words or phrases appear in presidential addresses. The trades generated $107,539 in illicit profits. The CFTC ordered disgorgement of those gains, a $65,000 civil penalty, and a three-year ban on trading at any CFTC-registered entity. The case serves as a warning: nonpublic information obtained through government service cannot be used for personal gain in any trading venue, including newer platforms like Kalshi. The CFTC’s jurisdiction over these markets was solidified after Kalshi won a legal battle in 2024 to offer political event contracts. The case underscores the growing scrutiny of insider trading in prediction markets and highlights their importance in the financial ecosystem.