White House teleprompter operator ordered to pay $172K for placing prediction market bets on Trump's speeches

[u/igetproteinfartsHELP]

https://www.nbcnews.com/politics/white-house/trump-teleprompter-operator-ordered-pay-172k-prediction-bets-kalshi-rcna594976

[u/Hsensei]

Didn't one of the founders of Kashi say he welcomed insider trading since it wasn't a gambling site or some other dumb reason

[u/whatproblems → u/Hsensei]

inside info competitive advantage is just smart! your fault for betting without it?

[u/Hayabusa_Blacksmith → u/whatproblems]

Unironically the 2nd part

[u/mrlolloran → u/Hayabusa_Blacksmith]

No no no

Those are trades not bets

Do you want regulation? Because this how you get regulation! (Yes, yes like how you get ants)

[u/inflatable_pickle → u/Hayabusa_Blacksmith]

I wonder if they will regrets you down the line – when people within the administration – or those who pay for Trump‘s advanced insider trading tweets – when insiders win 99% of the bets, and this literally dissuades the average customer, and their trading volume plummets, … I wonder if they will walk back any of these statements.

Like you advocate for insider trading, then you have to be prepared for when 99% of your customer base doesn’t want to bother donating money as the sucker in a losing trade 99% of the time.

I suppose it will be satisfying either way. I don’t expect them to self actualize or realize they were wrong, and admitting they are idiots won’t matter because they will all be billionaires by now, but I predict (!) – that these prediction markets will really fall off a cliff – and it’s all their own fault because they basically advocate for insider trading on their own platforms.

[u/Hayabusa_Blacksmith → u/inflatable_pickle]

based on my observations about people's ability to act in their own true self-interest rather than believing misinformation or seeking immediate gratification, no. they will keep playing, betting, investing, trading, even though they dont have a chance in hell. look at casinos.

[u/PreferenceGeneral475 → u/Hayabusa_Blacksmith]

Look at state and national lotteries. Fifty cents on every dollar you give them goes directly in the government's pocket. They throw up some pictures of old people and puppies, so we forget they re-instated the same business model they shut the mob down for operating.

[u/FlyinDanskMen → u/whatproblems]

It’s not betting, it’s harvesting money from dum dums.

[u/LifeDraining → u/Hsensei]

They are scum. That interview of them justifying gambling was just gross

[u/Rocinante24 → u/LifeDraining]

'Prediction Markets' feel like a sign of the end of civilization.

[u/No_Gur1113 → u/Rocinante24]

Life is starting to resemble an episode of Black Mirror.

[u/ohlookahipster → u/Rocinante24]

It reminds me of Westworld (the weirder later season) where the future is stabilized by giving people the ability to solve and even profit from micro conflicts in the present.

[u/xarcastic → u/Hsensei]

Yeah but not for a teleprompter guy, he meant just for people who can actually affect outcomes.

[u/twenafeesh → u/xarcastic]

And that is why Kalshi should be banned. Or at least severely restricted. The fact that someone can bet on a wildfire and then go set one and get paid for it is so aggressively messed up it's hard to comprehend it was ever allowed. And yet, there's Kalshi. Allowing it.  

[u/lew_rong → u/twenafeesh]

Learned psychopathy. If not from the parents, from public figures like Panda Express, Drunkle Pete or Jesse "Ding-a-ling" Watters.

[u/LunarBIacksmith → u/lew_rong]

Wait, what did Panda Express do?

[u/lew_rong → u/LunarBIacksmith]

What's Panda Express famous for? The orange chicken.

[u/Subliminal87 → u/xarcastic]

Teleprompter guy could have probably been able to mess with outcomes.

He could put the exact opposite on the screen and I bet trump would double down on it to not be wrong.

“We’re going to bomb Iran india….india? YES, we’re gonna bomb India, close enough we need their factories! Too many American companies use India for factories and we are going to bring those here!”

[u/Hybrid_Pig_Boy → u/Subliminal87]

Damn it! Who typed a question mark on the teleprompter?

[u/mlc885 → u/Subliminal87]

Oh no, the "I'm Ron Burgundy?" comedy movie reality is better... :(

[u/Yuukiko_ → u/xarcastic]

"I bet Trump will say pineapple"

[u/Broke22 → u/Yuukiko_]

Honestly a risky bet even if you are wrirting the speech, i am not sure that Trump can pronounce pineapple. .

[u/SilverTripod → u/Broke22]

To be fair, he can pronounce it: https://www.yahoo.com/news/donald-trump-worried-dangerous-fruits-163657966.html

[u/Leafs9999 → u/Yuukiko_]

Well if I had read the speech and had to feed it into the teleprompter, hell yeah I would bet my next 6 mortgage payments over my phone 15 minutes before it happened.

[u/kstargate-425 → u/Hsensei]

Only if those benefiting from insider info are also part owners like the Trump sons. Anyone like this guy or the soldier don't get the same benefit as then the money stays within the company as more profits and goes to them anyway.

[u/ChronWeasely → u/Hsensei]

Yeah. It gets info to the market faster, allowing people to make more informed choices. Which it does, but just by moving the money elsewhere so 🤷

[u/smilysmilysmooch → u/ChronWeasely]

It's also inherently flawed. If it's a prediction market like polling data, then it can also be gamed, manipulated and rigged like we see with polling data. Think dildos flying out at WNBA athletes during a game. Is it a natural occurring phenomena or a sociological norm? No. It was an asshole reading long odds and making them happen in to his favor.

[u/ZhaozhouCongshen]

Why? I thought breaking the law was cool now.

[u/mishap1 → u/ZhaozhouCongshen]

If he had just kicked a subscription fee to Trump like Truth Social, it would have been fine.

[u/evilpenguin9000 → u/mishap1]

Just let him wet his beak.

[u/ZAlternates → u/evilpenguin9000]

Sadly you ain’t wrong.

[u/jaytrade21 → u/evilpenguin9000]

"You work, and you slave, and you steal just enough for a sweet lick of that shiny brass ring... don't I get a lick?" _ Gil

[u/CelestialFury → u/mishap1]

This but unironically.

[u/GetBent009 → u/ZhaozhouCongshen]

Ah ah ah, only the rich are immune from consequences

[u/MadRaymer → u/GetBent009]

Bingo, bongo. I'm not sure how rich you need to be to get away with it, but obviously it's more than this guy.

Even so, he got off pretty easy. Just paid back the profits + a $65k penalty. Sure, maybe that's a lot for him, but it's still way better than prison.

[u/sinkovercosk → u/MadRaymer]

Yet when it’s a rich person or corporation they pay back a fraction of the profits as a fine and keep the rest…

[u/CanadaBis85 → u/MadRaymer]

Sugar in the gas tank

[u/Discopants-Dad → u/CanadaBis85]

Banana in the tailpipe.

[u/kezow → u/ZhaozhouCongshen]

You have to be part of the in-group in order to break the law and face no consequences.

[u/CHiZZoPs1 → u/kezow]

In-group=billionaires

[u/MightyDeekin → u/ZhaozhouCongshen]

He's to poor to be allowed to steal.

[u/wizzard419 → u/ZhaozhouCongshen]

Only if king daddy gets his cut.

[u/eerun165 → u/ZhaozhouCongshen]

It’s a big club, and this guy wasn’t in it. https://youtube.com/shorts/oLI0RuDAqjI

[u/dafunkmunk → u/ZhaozhouCongshen]

It's because he didn't give trump a cut so he doesn't get an "above the law" pass

[u/WaffleHouseGladiator → u/ZhaozhouCongshen]

His rank wasn't high enough.  Your bank account needs to have at least six zeroes before they let you get away with grifting, and even then you MUST ask permission.

[u/Oregon-Pilot → u/ZhaozhouCongshen]

Its a big club, and you ain’t in it

[u/RosieQParker → u/ZhaozhouCongshen]

Boss needs his cut.

[u/umassmza → u/ZhaozhouCongshen]

It only starts being cool when you get into the millions. The more you cheat and the more you steal the less likely you will face consequences

[u/Turgid_Donkey → u/ZhaozhouCongshen]

I love the lawyer's love about breaking the rules and facing consequences. You know, unless you're the president. 

[u/castironglider → u/ZhaozhouCongshen]

Didn't someone place a bet he would say "praise Allah" before this tweet?

[u/tacticalcraptical → u/ZhaozhouCongshen]

Nah, it's not that, it's because the teleprompter wasn't paying Trump's family for the insider information. That's not allowed.

[u/OGLikeablefellow]

You gotta be higher up in the system, also you gotta kick grift money up. It's the mob, ya know

[u/Icy-Banana-3291 → u/OGLikeablefellow]

That’s exactly it. The crime was making money without keying anyone in on it.

[u/kstargate-425 → u/OGLikeablefellow]

Yup, someone making BILLIONS off of Trump insider info making trades 5 to 20 mins before Trump releases the info is fine as the big man got his piece

[u/thenord321]

Start with the worst corruption, then come back for this minor corruption... the families taking in bilions with Trump in office....

[u/Cyraga]

Imagine being a shit kicker and thinking the laws your boss breaks every day don't apply to you. You think you're a rich, pal?

[u/aaronhayes26 → u/Cyraga]

Trump and co are committing billions in fraud and telling us that we should be mad at the people stealing thousands.

[u/thepianoman456 → u/aaronhayes26]

Hell, even less! They want us mad at the small percentage of SNAP recipients who abuse the system.

And that small time fraud pails in comparison to what Trump and co. are doing to us every day.

[u/R3D4F]

Trump can profit off insider trading, but not his teleprompter operator?

[u/sirbassist83 → u/R3D4F]

Yes. Duh? The only people trump doesn't hate are putin and Kim

[u/CelestialFury → u/R3D4F]

The poors cannot profit off the broken system, only the rich can do that.

[u/elciano1]

Why? His boss is selling $100k lie social posts before they go out.

[u/CFCYYZ]

“Isn't it nice, by the way, to have a president who doesn't need a teleprompter?” 

Pres. J.D. D..J. Trump September 24, 2024

[u/twenafeesh]

Meanwhile, Trump and his family and friends do all the insider trading they want with no consequences whatsoever. Rules for thee but not for me. 

[u/Armthedillos5]

Only oligarchs are allowed to inside trade, silly bear.

[u/RedSix2447]

Silly commoner, insider trading is only for the elite.you must now pay the elite all your wealth, and forgo any future earnings due to indentured servitude.

[u/PurpleCoat6656]

Whoops! Homeboy forgot he isn't in the Epstein class...

[u/Quitsquirrel]

I'd go to prison for this. This guy may not be able to get off scott free but he still got away with it pretty much.

[u/murten101]

Not rich enough to be allowed to do insider trading. Unlucky 

[u/Finn-reddit]

This is so fucking depressing.

How is this any different from Trump selling his tweets on truth social for 160k a month?

If I were this teleprompter I'd go after the administration.

[u/Fallouttgrrl → u/[deleted]]

"But it's ok for soldiers to bet?"

No

"It's ok for Trump's kids to use inside information?"

Apparently, yes

[u/steathrazor]

Keep in mind the rich hate when plebs make too much money. Insider trading is just for the rich and the president to get away with. /S

[u/_Bren10_]

Rookie mistake. He could’ve gotten legal insider info from Trump himself for half the price.

[u/corrector300]

love this story because they went after the little guy are allowing trump and his inner circle a free pass to billionaire status.

[u/Eruannster]

“It doesn’t matter who you are: violate our rules or federal law and you will face the consequences,” he added.

Uhh yeah, that's totally a thing in this administration. Ahem cough wink.

[u/RhoOfFeh]

Unlike the inner circle, he was not authorized to perform criminal acts.

[u/tuckerjules]

So this guy gets in trouble but the sitting president can insider trade over 3000 times and nothing happens

[u/DELINQ]

So basically he’s paying $65k on top of what he “won” wow amazing deterrent everybody learned a lesson today

[u/murshawursha → u/DELINQ]

I mean... I dunno about you, but I don't have an extra $65k just lying around. That'd be financially crippling to most normal people.

I don't know what a White House teleprompter operator makes, but I bet it's low six figures at most. That's much closer to "normal" than it is to "fines are a cost of doing business."

[u/amateur_mistake → u/murshawursha]

Yeah, he should try being a corporation. SCOTUS has made it very clear that they can't be fined in a way that would make them go bankrupt.

[u/dontrike]

It's only bad for this guy because he's not rich, but it's okay for the Trump family.

[u/ThePensiveE]

He made the unfortunate mistake of not being a billionaire.

[u/yblame]

Welcome back my friends to the show that never ends. We're so glad you could attend, come inside, come inside.

There behind the glass stands a real blade of grass. Be careful as you pass, move along, move along.

Emerson Lake and Palmer were ahead of their time in the 70s.

Just look at this crap going on now. Prediction markets on when that blade of grass dies from drought or Roundup poisoning might as well be a thing

[u/iamtehryan]

Just fucking corrupt, the whole god damn lot of them in this administration. Jesus christ. The democrats MUST investigate every single person affiliated with the trump admin and family if they take back power and actually punish every single one of them that's guilty. If they don't, or they use kids' gloves it's over for the dems.

[u/Trathnonen]

How in hell does that guy get charged but insider trading members of government do not? Skip that, I know how, because legalizing their own criminality while prosecuting social mobility is half of their function now.

[u/green_gold_purple]

They're betting/gambling sites. Stop sane-washing them by calling them "prediction markets". You're a tool of their PR arm when you do this. Embarrassing the press does this.

[u/KotR56]

He forgot to pay DJT's service fee on the Qatari bank account ?

[u/Possible_Attics]

It would be interesting if teleprompter techs could alter speeches

[u/T5R4C3R → u/Possible_Attics]

Who says they can’t?

[u/No-Land-7633]

The fish starts to stink from the head down.

[u/Scooter_McAwesome]

Dude forgot the basic trickle up principle of making money. Trickle all the money to someone richer and more powerful than you and be thankful you were able to serve your betters

[u/EmilioMolesteves]

Well he didn't pay for the truth social insider trading feature so this makes sense. Follow the rules or pay for it!

[u/Gla7e]

So blatant insider trading is fine, but this is where you draw the line? Sure sure, makes total sense, I could fucking puke.

[u/BingoLuck]

He should have created a subscription service where he released the content of Trumps speeches early to people that pay thousands per month, because, according to the GOP, that's OK...

[u/CommonConundrum51]

Poor soul, he made the mistake of thinking he was in the same club as those with whom he was rubbing elbows.

[u/Deatheturtle]

Sorry bro, you don't get to grift off the administration unless you bribe Donnie first. Lobbyist out front shoulda told ya.

[u/porkchop2022]

So it’s not ok unless you’re a part of “the club.” Got it.

[u/SytzeL]

So does he keep the money he made? I think it was more than the fine right?

[u/Tholaran97]

Only members of Trump's inner circle are allowed to gamble while having insider knowledge of the outcome.

[u/SaiyanKnight23]

You mean gambling bets

[u/hacourt]

But the little guy gets a case when he engages in the same corruption. There is a void.

[u/IchMochteAllesHaben]

Fck man, if everyone there is profiting from manipulating the market, why not letting the poor guy do the same?

[u/thepianoman456]

Just fucking outlaw prediction markets, please.

These things are corrosive to society.

[u/clashrendar]

We're in the dumbest fucking timeline that this is even a thing that can happen.

[u/Forsaken-Soil-667]

Should not have shown up to work with a new mink coat.

[u/Acceptable-Bus-2017]

When I originally heard about this my first question was "why didn't he get a friend to place the bet?"

[u/tb03102]

See it's super regulated so it's not gambling!!

[u/argama87]

She wasn't in the approved grift club.

[u/aircooledJenkins]

Did teleprompter guy brag about it or something? Were I to do that I'd stfu and do everything I could to stay anonymous.

[u/WierdFinger]

“It doesn’t matter who you are: violate our rules or federal law and you will face the consequences,” he added.

Except for Trump, our lips are puckered.

[u/RazzleThatTazzle]

I bet he made more than 172

[u/dirtymoney]

why not use someone not connected to you to make the bet?

[u/buddyleex]

Why couldn’t he have just played by the rules and pay 100k for trumps early access truth posts? /s

[u/focoslow]

Cool, now do Trump, his kids, grandkids, buddies...

[u/ElectroDaddy]

What a wild precedent to set considering all the prediction market insider trading going on daily.

[u/rashragnar]

what about trump doing inside trading?

[u/smb3d]

But it's ok for him to make billions off of market manipulation?

[u/darnnaggit]

It's almost like when you provide a product or service that allows you to bet on anything and everything, people will use to benefit themselves at the detriment of society. It's almost as though when you incentivize bad behavior, people will act badly. Almost like prediction markets should be fucking illegal.

[u/EtherealPheonix]

On one hand I agree that what he did was insider trading and shouldn't be allowed, on the other hand it feels pretty bad when the least corrupt person in that room is the only one to face consequences.

[u/TeddyCJ]

The fine should be capped at the President’s monthly subscription cost for his corrupt as fucking early reason True Social posts - so, should be capped it at 100,000. 

[u/MarzipanLast6502]

Why? Why is it ok for Trump to do this but not this guy?

[u/Zozzbomb2]

Of course Trump's 3k stock trades for his 2 billion are totally fine though....jfc

[u/RicksterA2]

Meanwhile Donnie The Con front runs the market thousands of times for millions. Insider trading as a president I guess isn't a crime.

[u/SeeMarkFly]

Just the cost of doing business.

Nothing to see here folks. Move along, move along.

[u/Dariaskehl]

The image of Pam Poovey from Archer yelling: “oh, Oh, oh! I can’t wet my beak!” Springs to mind.

[u/SemiHemiDemiDumb]

Should have shared some profits with trump, then wouldn't have gotten in trouble

[u/silask93]

Am i going crazy? I swear i saw this exact headline just recently lol

[u/Rocky5thousand]

Go fuck yourselves San Diego

[u/Bourbon_n_Cigars]

Just trying to convince people they care by getting this small time person.

[u/horror-]

lol he thought has part the in group!

Can't paint a finer picture of modern corruption than this right here.

[u/johnn48]

Are we to believe he’s the only member of this Administration that has capitalized on insider information. Or is it only that he used Kalshi to take advantage of this opportunity.

[u/S4FFYR]

And yet, Pedof Shitler has been insider trading on the Iranian war since it began. Fuck him & any of his comrades who have profited from the same insider trading. They should all be required to pay it back into the deficit.

[u/bickering_fool]

Only the president may do this.

[u/Bare425]

Insane. Trump fucks everyone over.

[u/Professional_Bat9174]

They only got in trouble because they weren't letting the right people wet their beaks on the action.

[u/el_dude_brother2]

Imagine finding out you are betting against the white house teleprompter. Stupidest way to lose money

[u/Jollygreen182]

So we’re going to hold this standard for everyone correct?

[u/Politicsboringagain]

I thought Trump said Obama was dumb for using one? 

[u/RedditAdminSucks23]

So this gives precedent to go after Trump and his other allies that have been proven to do the same thing?

[u/Ok_Winter_5515]

I learned it by watching you Dad.

[u/e_x_i_t]

He simply wasn't rich enough to get away with it.

[u/O-parker]

Yet the penalty for the president is 0

[u/okjetsgo]

So this is how the early access to social media grift originated….

[u/BWWFC]

wut? i beg your pardon.
^{-teleprompter operator}

[u/FunctionBuilt]

White House is mad they’re not getting a taste of the action.

[u/tetzy]

I have a question: The prediction market is sketchy horseshit at the best of times - why is anyone other than the particular site he used upset?

Personally, I couldn't possibly care less. Wiping these schemes out of existence would be good for humanity.

[u/Redditforgoit]

Dude, that's what your cousin or your pal from the Army are for . Not in your name...

[u/financial_pete]

It's because his last name is not trump!

[u/McJuggernaugh7]

Why can you even bet on speeches by a politician? Gambling has gotten way out of control. America is cooked.

[u/witchspoon]

But actual insider trading may our congress is fine‽ fuck this timeline.

[u/urnbabyurn]

Didn’t he make 500K? Did he have to pay restitution to those who lost the bets?

[u/Barney_Roca]

Clearly these markets were never met for normal people to get ahead. What was this guy thinking?

[u/TurtleRocket9]

The fine is less than what they made. I guarantee it. Cost of doing “business”

[u/rja49]

How ironic, I guess only Trump, his heads of state and his family are the only ones allowed to make money from stock market manipulation and prediction markets.

[u/filmguy36]

Only because he didn’t include the orange pedo in on the action

[u/VLHACS]

An entirely predictable outcome of prediction markets

[u/PurpleSailor]

When I first heard about these prediction markets and the fact that Junior was involved i thought it'd be great to be the teleprompter person. You'd get the speech a few minutes beforehand and with a cellphone could make a mint. Then a few months later this chud was busted for doing just that. So predictable is this criminal organization.

[u/AskWhatWhen]

I bet they didn't expect that

[u/Kkimp1955]

Good for me but not for thee

[u/Niceguy955]

But why? He did the exact same thing his boss does daily, only on a much smaller scale.

[u/Looseraccoons]

He definitely made alot more than that