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, sending the measure to the Senate on Thursday for consideration.
- Public attention to prediction markets intensified after a soldier allegedly earned more than $400,000 betting on Venezuelan President Nicolás Maduro's removal in January, and President Donald Trump's former teleprompter operator reportedly made more than $90,000 from Kalshi contracts.
- The legislation prohibits members of Congress, their spouses and dependent children from purchasing publicly traded stocks, requiring 7 to 14 days' notice before selling existing holdings. Representative Bryan Steil said it 'ensures no lawmaker can profit off of insider information' with penalties of $2,000 or 10% of transaction value.
- Senator Elizabeth Warren, a Massachusetts Democrat, rejected the bill, writing that it 'has major loopholes' and 'won't solve the problem' because lawmakers can retain and sell existing stocks as the Senate took up the measure.
- 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 through January 20, 2029.
13 Articles
13 Articles
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…
Eagle-Tribune
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…
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...
House Passes Insider Trading Bill, But Kalshi and Polymarket Traders Watch the Loopholes
The House voted. 232 to 198. The Stop Insider Trading Act cleared its first major hurdle, and now the hard… Read the original on House Passes Insider Trading Bill, But Kalshi and Polymarket Traders Watch the Loopholes. For more crypto news and analysis, visit TheCurrencyAnalytics.com.
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