Gabriel Perez, a former White House teleprompter operator, was fined after using advance access to Donald Trump’s speeches to trade prediction-market contracts tied to presidential mentions, according to Decrypt. Perez could review the speeches before they were delivered and used that information to place bets on the relevant “presidential mention market” contracts. The trading generated more than $107,500 in profits before the U.S. Commodity Futures Trading Commission caught up with him. The case highlights the risks of using confidential or nonpublic information in event-based markets, where contract outcomes can depend on specific public statements or appearances. Decrypt did not state the amount of the fine in the supplied report. The matter is separate from the performance of any cryptocurrency asset and concerns conduct in prediction markets involving political events.
Source
Decrypt
This is an original Moneyiar brief based on the cited source.
Read original source ↗
