A White House staffer is facing investigation over allegations of insider trading, after it is claimed they used inside information to make nearly £100,000 in bets on US President Donald Trump's speeches.
The teleprompter operator, who worked at the White House since 2016, allegedly placed bets on words the president would use during major public addresses, including the State of the Union speech.
Kalshi, a prediction markets platform where users can bet on real-world events, confirmed that it reported the activity to the Commodity Futures Trading Commission (CFTC), which regulates the platform. The platform froze the staffer's account, preventing any profits from being withdrawn.
The platform's analysts noticed unusual betting on 'mention markets' - contracts where users predict whether a speaker will use common terms, such as specific countries, economic words, or campaign slogans. The exchange froze more than £90,000 before it could be withdrawn.
The White House has confirmed that the staffer is no longer employed, and has been placed on unpaid leave. President Trump is said to be aware of the situation, and the CFTC has confirmed that it is investigating the matter.