Gabriel Perez, a former aide to President Trump, reportedly made approximately $100,000 by betting on specific words Trump would say during speeches. These bets were placed on a platform called Kalshi, which operates a "mention market" where users can invest in contracts based on future events or statements.

Perez, who often reviewed and edited Trump's prepared remarks, allegedly adjusted his bets mid-speech based on Trump's delivery. Kalshi flagged unusual activity, froze Perez's funds, and reported him to the CFTC. While the CFTC investigated and reportedly entered settlement talks with Perez, federal prosecutors declined to pursue a criminal investigation. Perez is no longer working at the White House.

This incident highlights the growing trend of prediction markets, extending beyond sports to various other domains. The article notes the significant investment in advertising by these markets, particularly during major events like the World Cup, and raises concerns about the potential negative impacts of widespread, accessible gambling.