US House Passes Congressional Stock Trading Ban Despite Loophole Concerns
The 232-198 vote would bar new stock purchases by lawmakers and their families, while existing holdings could still be sold with advance notice.
- On Wednesday, the House passed the Stop Insider Trading Act by a 232-198 vote, restricting members of Congress, their spouses and dependent children from purchasing publicly traded stocks and sending the measure to the Senate on Thursday.
- High-Profile betting incidents on prediction platforms sparked momentum for reform after a soldier allegedly earned more than $400,000 from contracts tied to Venezuelan President Nicolás Maduro's removal in January, and President Donald Trump's former teleprompter operator reportedly made more than $90,000 from Kalshi wagers.
- The legislation prohibits new stock purchases and requires 7 to 14 days' public notice before selling existing holdings to the House clerk or Senate secretary. Representative Bryan Steil said it 'ensures no lawmaker can profit off of insider information' with penalties of $2,000 or 10% of transaction value plus profit forfeiture.
- Senator Elizabeth Warren, a Massachusetts Democrat, rejected the bill, writing it 'has major loopholes' and 'won't solve the problem' because lawmakers can still own and sell existing stocks, as the Senate became the next obstacle for Steil's proposal after receiving it Thursday.
- Wisconsin Republican Steil introduced the stock bill in January and separately proposed restricting congressional wagers on prediction platforms like Kalshi and Polymarket, though his permanent trading rules differ from the Digital Asset Market Clarity Act, which would bar the president, vice president and federal judges from issuing digital assets through January 20, 2029.
15 Articles
15 Articles
Congress Shouldn't Trade Stocks, Trump Says, but Rejects Ban for White House Officials
The House of Representatives voted 232 to 198 on 22 July to bar members of Congress, their spouses and their dependents from buying individual stocks, a measure President Donald Trump had publicly urged it to pass. The bill exempts the president, the vice president, and the rest of the executive branch. Trump has been consistent on the first half of that. He told Congress in February to pass the legislation without delay, arguing that lawmakers …
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Democrats defend vote against stock trading ban
BOSTON — Members of the state’s all Democrat congressional delegation are defending their vote against a GOP proposal to ban insider stock trading, claiming it was riddled with loopholes that will allow the practice to continue and included a voter…
Democrat Susie Lee Votes for Trading Ban After Casino Stock Sale Tied to Ex-Husband
Rep. Susie Lee (D-NV) voted Wednesday for legislation barring members of Congress from trading individual stocks, days after renewed scrutiny of her family's sale of casino shares weeks before the stock dropped sharply. The post Democrat Susie Lee Votes for Trading Ban After Casino Stock Sale Tied to Ex-Husband appeared first on Breitbart.
US House passes congressional stock trading ban despite loophole concerns
The US House of Representatives has passed a congressional stock-trading ban by a 232-198 vote, sending the measure to the Senate despite criticism that it leaves existing holdings untouched. According to a statement from Representative Bryan Steil’s office, the House…
House passes stock trading ban for lawmakers, but voter ID provision drove most Democrats away
The House approved the “Stop Insider Trading Act” on a 232, 198 vote with full Republican support and just 13 Democrats, after a voter ID requirement bundled into the bill gave most of the minority party a reason to walk away from a measure their own voters have demanded for years. Every Republican in the...
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