President Donald Trump expressed support on Wednesday for a potential ban on stock trading by government officials, signaling openness to bipartisan legislation advancing through the Senate that would bar top federal leaders from owning or trading individual securities.
Speaking to the Daily Caller, Trump called insider trading by former House Speaker Nancy Pelosi “disgraceful” and said he “likes [the bill] conceptually,” though he emphasized the need for further review.
“Nancy Pelosi became rich by having inside information,” Trump said. “She made a fortune with her husband, and I think that’s disgraceful… She ought to be investigated because she has the highest return of anybody, practically, in the history of Wall Street.”
Trump was responding to the latest developments on the PELOSI Act — officially titled the Preventing Elected Leaders from Owning Securities and Investments Act — introduced by Sen. Josh Hawley (R-MO). The legislation, which passed the Senate Committee on Homeland Security and Governmental Affairs by a narrow 8–7 vote on Wednesday, would bar members of Congress, as well as the President and Vice President, from buying, selling, or holding individual stocks.
A Bipartisan Push
Though the bill bears Pelosi’s name, it has drawn bipartisan support. Hawley, a long-time critic of financial conflicts in Washington, has emphasized the need for public officials to be held to higher ethical standards.
“I practice what I preach,” Hawley said during Wednesday’s session. “I don’t have individual stocks, I don’t trade in stocks. I’m not a billionaire, unlike others on this committee.”
Democrats on the committee joined Hawley in voting the measure out of committee, suggesting growing cross-party momentum behind restrictions on trading by those with access to privileged information.
Pelosi Responds, Expresses Support
In a striking development, Pelosi issued a statement supporting the PELOSI Act shortly after Trump called for her to be investigated.
“While I appreciate the creativity of my Republican colleagues in drafting legislative acronyms, I welcome any serious effort to raise ethical standards in public service,” Pelosi said. “I strongly support this legislation and look forward to voting for it on the floor of the House.”
Pelosi has repeatedly denied accusations of insider trading. Her support for the measure marks a notable reversal from her earlier opposition to stock trading bans prior to the 2022 midterms. She also supported the Ending Trading and Holdings in Congressional Stocks (ETHICS) Act in 2023 and 2024.
Scrutiny Over Pelosi’s Portfolio
Critics have long pointed to the performance of Pelosi’s stock portfolio as evidence of potential abuse of insider information. In 2024, she reportedly beat the S&P 500 by nearly 200%, with her portfolio growing an estimated 70% in just one year — figures that have raised eyebrows across the political spectrum.
Trump, who has made political corruption and government accountability cornerstones of his messaging, cited those numbers as reason enough for a formal investigation.
What’s Next?
While support is growing for restrictions on elected officials’ financial dealings, the legislation still faces hurdles. The full Senate and House must vote on the PELOSI Act, and enforcement mechanisms remain a matter of debate.
Nonetheless, with both Trump and Pelosi publicly backing the general principle of a stock trading ban, momentum for reform may be reaching a turning point.
Whether aimed at restoring trust or scoring political points, the pressure is mounting for Congress and the White House to address what many Americans view as a longstanding ethical blind spot in Washington.
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