U.S. Rep. Joe Neguse (D-CO) questioned House Administration Committee chair Bryan Steil (R-WI) on his “Stop Insider Trading Act,” which bans members of Congress from buying stocks individually, but does not ban them from buying stocks through private placements.
The bill also does not ban members of Congress from buying mutual funds, crypto, selling stocks, or making bets on prediction markets.
Instead of banning Members of Congress from trading stocks, House Republicans are now pushing a bill creating new loopholes to keep this insidious practice going! pic.twitter.com/guJwbjyqZt
— Rep. Joe Neguse (@RepJoeNeguse) July 21, 2026
Neguse argued that several members of Congress, including himself, have proposed legislation that bans all methods available to Congress members for the sale and purchase of stocks, and that every member in the Senate — Republican and Democrat — agreed in April that no Senator should be allowed to participate in a prediction market. Addressing his colleagues in the House, Neguse asked, “Why can’t we?”
Neguse suggested that they simply cut and paste the one-page resolution from the Senate, and pass it in the House.
Neguse grills Rep. Bryan Steil on why his anti-insider trading legislation doesn’t include crypto holdings, stocks bought through private placements, or ban them from making bets on prediction markets pic.twitter.com/DbO2UHCIDZ
— Aaron Rupar (@atrupar) July 20, 2026
Neguse’s colleague Rep. Alexandria Ocasio-Cortez (D-NY) reacted to the proposed legislation by writing: “Republicans are trying to pull a trick this week. They say we are voting on an ‘insider trading’ bill, but have snuck in massive SAVE Act-style voter suppression measures to it. This is a GOP effort to sabotage national mail-in voting, disguised as a trading ban. I’m voting NO.”
Republicans are trying to pull a trick this week.
They say we are voting on an “insider trading” bill, but have snuck in massive SAVE Act-style voter suppression measures to it.
This is a GOP effort to sabotage national mail-in voting, disguised as a trading ban.
I’m voting NO https://t.co/iOgH7AvSHk
— Alexandria Ocasio-Cortez (@AOC) July 21, 2026
AOC added: “If GOP were at all serious about the insider trading issue, they would put it up on its own for a vote. They know adding voter suppression to it will sabotage the effort to ban insider trading. That’s exactly why they’re doing it this way. Don’t fall for it. Spread the word.”