Efforts to ban members of Congress from buying and selling stocks could continue to rise with several recent disclosures violating the STOCK Act. A new filing by a member of Congress lists hundreds of trades since March 2024.
Here's the latest.
What Happened: One of the hottest stocks for members of Congress to buy in 2025 has been Palantir Technologies (NASDAQ:PLTR), a company that has won numerous government contracts and may pose a conflict of interest for members serving on government committees who invest in the stock.
Congresswoman Lisa McClain (R-Mich.) previously served on the Committee on Armed Services and the Subcommittee on Cyber, Information Technologies, and Innovation.
The Congresswoman recently disclosed hundreds of stock trades in an Aug. 13 filing. While some of the hundreds of stock purchases and sales happened in the months of August and July 2025, many of the trades were dated back to periods in 2024.
The purchases in the filing went all the way back to March 2024, as reported by the Benzinga Government Trades page.
Among the notable transactions were multiple trades involving Palantir stock. Here are five trades disclosed in the filing and the highest price for PLTR stock on that particular day:
- June 6, 2024: Bought $15,000 to $50,000 in PLTR stock, stock high $23.95
- August 14, 2024: Bought $15,000 to $50,000 in PLTR stock, stock high $31.37
- October 23, 2024: Sold $50,000 to $100,000 in PLTR stock, stock high $43.68
- November 7, 2024: Bought $100,000 to $250,000 in PLTR stock, stock high $56.47
- June 17, 2025: Bought $1,000 to $15,000 in PLTR stock, stock high $141.69
Palantir stock trades at $177.17 at the time of writing, significantly higher than the prices above. In fact, Palantir stock is up 639.7% from the first purchase in June 2024 based on the highest price point of the day. The stock is also up at least 464.8% from the August 2024 purchase price and up 213.7% from the November 2024 price.
It is unknown whether McClain sold the entire positions bought in June and August 2024 in the October 2024 sale, which was reported at between $50,000 and $100,000.
Palantir stock is also up 25% from the latest purchase in June 2025.
Benzinga reached out for comment and did not hear back.
According to a report from the Detroit News, the trades in the filing were conducted by McClain's husband Mike.
"She promptly filed the necessary paperwork immediately after being made aware of the transactions made in managed accounts and remains committed to transparency and adherence to all House financial disclosure rules and regulations," spokesman Mason Devers told the Detroit News.
The transactions were reported outside the 45-day disclosure window, which could result in fines of $200 for the Congresswoman.
Did You Know?
- Congress Is Making Huge Investments. Get Tips On What They Bought And Sold With Our Easy-to-Use Tool
What's Next: McClain's late filings come after Sen. Josh Hawley (R-Mo.) introduced the Preventing Elected Leaders from Owning Securities and Investments Act, or PELOSI Act, based on the first letter of each of the main words. The name targets Congresswoman and former Speaker of the House Nancy Pelosi (D-Calif.).
The bill made its way out of committee and could come before Congress for a vote.
Benzinga recently polled readers to gauge their stance on a potential ban on Congress members trading.
“Should members of Congress be allowed to buy and sell stocks, options and ETFs?” Benzinga asked.
These were the results:
- They should not be allowed to trade stocks, options or ETFs: 43%
- They should be allowed to trade as long as they report within 24 hours: 24%
- They should only be allowed to trade ETFs and mutual funds: 14%
- They should be allowed to trade as long as they report in 45 days: 11%
- They should only be allowed to trade stocks: 8%
The poll found that 43% of readers support an outright ban on members of Congress trading stocks, options, or ETFs. Eleven percent voted to leave the current rules unchanged, with a 45-day disclosure window.
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Photo: Shutterstock
