Gabriel Perez has run Donald Trump’s teleprompter since 2016. According to CFTC investigators, he spent months betting on Kalshi’s “Mentions” market on which words and phrases Trump would use in his own speeches, and made more than $100,000 doing it. He’s now in settlement talks with regulators, on unpaid leave from the White House (where the president’…
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Here's Where Prediction Markets Go Wrong
Gabriel Perez ran Trump's teleprompter and bet on what the president would say. Now begins the terrible tailspin of prediction markets.
Jul 16, 2026
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The Rip Current
We're in the invisible grip of technology, politics, and our own weirdness. We gotta get better at seeing it.
Hosted by veteran journalist Jacob Ward (correspondent for Al Jazeera, PBS, NBC News, and CNN), The Rip Current is your guide to spotting the hidden forces at work in our lives and getting across them safely.
Each week we speak to experts in the stuff you didn't know was having an impact on your life, from venture capital to racism to the tried-and-true tactics of bullies, and teach you how to see The Rip Current before it sweeps you out to sea.
Read more at TheRipCurrent.com!
We're in the invisible grip of technology, politics, and our own weirdness. We gotta get better at seeing it.
Hosted by veteran journalist Jacob Ward (correspondent for Al Jazeera, PBS, NBC News, and CNN), The Rip Current is your guide to spotting the hidden forces at work in our lives and getting across them safely.
Each week we speak to experts in the stuff you didn't know was having an impact on your life, from venture capital to racism to the tried-and-true tactics of bullies, and teach you how to see The Rip Current before it sweeps you out to sea.
Read more at TheRipCurrent.com!Listen on
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