Warren, Merkley Ask White House About Staff Prediction-Market Safeguards

Sens. Elizabeth Warren (D-Mass.) and Jeff Merkley (D-Ore.) are asking the White House to explain safeguards against employees using confidential government information to make prediction-market bets. In a letter sent Monday to White House Counsel Will Scharf, the senators asked whether staff are trained on rules against trading with nonpublic information. They also asked whether administration officials contacted the Commodity Futures Trading Commission (CFTC) or Department of Justice (DOJ) about Gabriel Perez’s case. The letter seeks a copy of a memo warning staff against such bets. Perez, President Donald Trump’s longtime teleprompter operator, reached a settlement with the CFTC that required him to surrender profits, pay a penalty and accept a three-year trading ban. The inquiry adds to scrutiny of prediction-market activity tied to White House events.

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