Throughout US President 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. Some 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. Others say the picture is more complicated and that some traders have become more adept at anticipating the president's interventions. Here are five of the most significant examples: On 9 March 2026, just before Trump stated regarding the US-Israel war with Iran that the conflict was 'very complete', trades in oil surged, leading to a subsequent 25% drop in price after the announcement. On various occasions, unexpected spikes in trading volumes occurred preceding Trump's statements about foreign policy, suggesting possible foreknowledge of his announcements. The article raises questions about the integrity of financial practices surrounding the administration, and while some activities may be indicative of illegal insider trading, the White House and financial authorities have not confirmed any investigations.