Treasury Secretary Scott Bessent has intensified calls for a ban on single-stock trading by members of Congress, citing concerns over public trust and allegations of insider trading. In a recent interview, Bessent pointed to the unusually high investment returns of certain lawmakers—specifically naming former House Speaker Nancy Pelosi and Senator Ron Wyden—as evidence of the need for reform.
Bessent argued that prohibiting single-stock trading is essential to maintaining the credibility of Congress. He stressed that lawmakers should focus on serving the public, not enriching themselves, and noted that similar trading behavior by private citizens would likely attract scrutiny from federal regulators.
The push for reform comes amid growing bipartisan support for legislation that would prohibit lawmakers, their spouses, and dependent children from trading individual stocks. Current laws require financial disclosures and ban insider trading by members of Congress, but critics argue these measures are insufficient to prevent conflicts of interest or even the appearance of impropriety.
Former Speaker Pelosi has become a focal point in the debate due to a series of highly profitable trades made by her husband, Paul Pelosi, which are disclosed in her required financial reports. Critics have questioned whether these transactions benefited from insider knowledge. A spokesperson for Pelosi has stated that she does not own stocks or participate in any trading activity. Pelosi has also voiced support for a proposed Senate bill that would ban stock trading by lawmakers, their families, and even the president and vice president—though the measure would not take effect until the start of their next terms.
President Donald Trump has endorsed the idea of a congressional stock trading ban and has called for an investigation into the Pelosi family’s trades, describing their financial success as suspicious. However, his support has stirred some tension, as he recently criticized a Republican senator who introduced a similar bill, accusing the lawmaker of being influenced by political opponents.
The debate over congressional stock trading has gained momentum in recent months, with lawmakers from both parties pushing for stricter rules. Some are calling for a House vote on a trading ban, while others remain opposed, arguing that existing laws and disclosure requirements are adequate. Critics of the proposed restrictions have also raised concerns about their scope and potential unintended consequences.
Allegations of impropriety have fueled the controversy further. Recent reports have detailed ethical violations by lawmakers accused of trading stocks based on nonpublic information, underscoring the need for stronger safeguards. Figures like Senator Wyden, whose investment portfolio reportedly saw substantial gains last year, have faced scrutiny but maintain their support for a trading ban.
As momentum for a congressional stock trading ban builds, Bessent’s advocacy—combined with backing from the Trump administration—could influence the path forward. However, with resistance from some lawmakers and disagreements over key details, the road to reform remains uncertain. For now, the controversy continues to erode public trust, with high-profile figures like Pelosi at the center of the storm.
