Treasury Secretary Bessent Backs Ban on Congressional Stock Trading

What Happened

Treasury Secretary Scott Bessent announced he will push Congress to pass a ban on lawmakers trading individual company stocks, calling the practice a 'clear conflict of interest' that damages public trust. Speaking at a press conference, Bessent said members of Congress should focus on serving the country instead of 'chasing hedge-fund-level returns.'

The move aligns with recent calls from President Trump and Senator Josh Hawley, who have both argued that insider knowledge and political power give lawmakers an unfair advantage in the markets. Hawley’s 'PELOSI Act,' first introduced in 2023, sought to bar members of Congress and their spouses from trading individual stocks. A proposal widely viewed as a direct response to former Speaker Nancy Pelosi, whose trading record has drawn frequent scrutiny from critics as well as increased attention from other traders.

Bessent emphasized the administration’s willingness to work with lawmakers from both parties to get a bill across the finish line, and even floated the idea of extending similar restrictions to senior members of the executive branch.

Why It Matters

Congressional stock trading has long been controversial. Critics from all sides have argued that lawmakers have access to sensitive, market-moving information through classified briefings, committee work, and regulatory decisions. While insider trading is illegal, proving violations in Congress is notoriously difficult, and disclosure rules have not stopped suspiciously well-timed trades from making headlines.

A little-known bill just tipped the scales

The GENIUS Act didn’t make headlines, but maybe it should have.

Passed quietly in Q1, the bill introduced new incentives for companies that share revenue with users.

Not ads. Not influencers. Everyday people.

And it just so happens that one company already does this.

In fact, they built their entire business on that idea years ago:

Mode Mobile.

That puts Mode way ahead of the competition the GENIUS Act is trying to encourage.

Mode already has:

● 50M+ users

● $325M+ paid to users

● $75M in real revenue

● Nasdaq ticker secured for potential IPO

● Pre-IPO shares available at just $0.30/share

This is a company that was awarded North America’s fastest growing software company after 32,481% growth!

And now they’re not just ahead of the curve, they are the curve.

But their pre-IPO offering is over 95% full, with limited shares remaining.

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By backing a ban, the administration is focusing its efforts on what many Americans see as a glaring double standard; one set of rules for politicians, another for the public. The proposal could also become a political litmus test heading into the 2026 midterms, forcing members to choose between defending their financial freedom and proving their commitment to ethics reform.

The reference to the PELOSI Act spotlights the political edge of this debate. While Pelosi herself has repeatedly denied breaking any laws, the perception of impropriety has fueled bipartisan calls for reform.

How It Affects You

The impact is less about the stock market itself and more about trust in government. Polls consistently show that Congress ranks among the least trusted institutions in the country. Passing a ban on stock trading could be a step toward showing voters that lawmakers in Washington are willing to hold themselves to higher standards.

A trading ban could also reduce the likelihood that public policy decisions are swayed, either directly or indirectly, by personal financial interests. If lawmakers no longer have money riding on individual companies, they may be less tempted to pass legislation or influence regulations that benefit their own portfolios.

Extending the rules to senior executive branch officials, as Bessent suggested, would expand the reform’s reach while also ensuring that those writing and enforcing federal regulations are also free from the appearance of self-dealing.

The fight over congressional stock trading has been simmering for years, but with the backing of the Treasury Secretary, the president, and high-profile lawmakers like Hawley, the political momentum may be stronger than ever.

If Congress decides to begin policing itself, it will be a colossal step toward accountability, although talk is cheap and significant action remains to be seen. But this time, voters are paying close attention.

*Mode Mobile recently received their ticker reservation with Nasdaq ($MODE), indicating an intent to IPO in the next 24 months. An intent to IPO is no guarantee that an actual IPO will occur.

The Deloitte rankings are based on submitted applications and public company database research, with winners selected based on their fiscal-year revenue growth percentage over a three-year period.

Please read the offering circular and related risks at invest.modemobile.com.