A White House insider named Perez allegedly used his access to presidential speech content—like the State of the Union—to profit over $100K on a betting platform called Kalshi. The scandal has erupted amid claims from the White House press secretary calling it a disgrace, while Kalshi says it flagged suspicious trades and reported them to regulators. The platform’s rules explicitly ban betting based on employment-related info, making Perez’s actions a glaring breach. This case exposes how insider knowledge can be weaponized—and raises urgent questions about accountability and security in positions of power.
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