Throughout Donald Trump's second term in office, traders have been betting millions of dollars just before he makes major announcements.
The BBC has examined trade volume data on several financial markets and matched them to some of the president's most significant market-moving statements.
It found a consistent pattern of spikes just hours, or sometimes minutes, before a social media post or media interview was made public.
Analysts say it bears the hallmarks of illegal insider trading, whereby bets are made by people based on information that is not available to the general public.
Here are five of the most significant examples.
9 March 2026: 'The war is very complete, pretty much'
Some of the biggest movements have been in oil trades on the futures market.
Nine days into the US-Israel war with Iran, Trump told CBS News in a phone interview that the conflict was "very complete, pretty much".
The first time the public would have known about the interview was at 15:16 Eastern Time (19:16 GMT).
Oil traders reacted to this news that the conflict could end much sooner than expected by selling oil, with the price plunging by around 25%.
However, market data shows a huge surge of bets were placed on the price of oil falling at 18:29 GMT - a full 47 minutes before the reporter's post.
The traders who placed those bets will have made millions of dollars from the movement in oil prices.
23 March 2026: 'Complete and total resolution to hostilities'
On 23 March, just two days after threatening to "obliterate" Iran's power plants, Trump posted on Truth Social that Washington had held "VERY GOOD AND PRODUCTIVE CONVERSATIONS" with Tehran over a "COMPLETE AND TOTAL RESOLUTION" to hostilities.
It was a major surprise to diplomatic observers and to traders.
Immediately, stocks rose and the US price of oil - which had been climbing - fell sharply.
14 minutes before the president's post there were an unusually high number of bets on the US oil price.
The same pattern was seen in traders buying contracts for Brent crude, the major oil benchmark.
The trades appeared abnormal.
The recent growth of online predictions markets has also drawn scrutiny from observers.
Blockchain-powered platforms such as Polymarket and Kalshi offer users the chance to speculate on anything from the weather to baseball to US foreign policy.
Trump's son, Donald Trump Jr, is an investor in Polymarket and sits on its advisory board. He also acts as a strategic advisor to Kalshi.
28 Feb 2026: Strikes on Iran
According to the blockchain analysis website Bubblemaps, six accounts were created on Polymarket in February.
All placed wagers on a US strike on Iran happening by 28 February. When the attacks were confirmed by President Trump in the early hours of that day, the accounts earned $1.2m between them.
Five of those six users have placed no more bets since.
Paul Oudin, a professor who specializes in financial regulation law, says, "You can have massive trades on a financial instrument that clearly show that someone was privy to what Donald Trump was about to declare."
