Congress closes insider-trading loophole: no early access to officials' posts
H.R. 10125 — NO PROFIT Act · Filed by Jim Himes (D-CT) · 5 cosponsors · Introduced Aug 20, 2026 · Referred to committee
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What it does
This bill makes it illegal for anyone to trade securities, commodities, or speculative contracts while possessing nonpublic information obtained through early or special access to social media posts by government officials (the President, Congress members, federal employees, judges, and their families). It also prohibits social media platforms from selling or granting special early access to posts from government officials' accounts, with civil penalties equal to all revenue the platform earned from that special access.
Why we flagged it
The bill's core mechanism is a straightforward insider-trading prohibition targeting a specific loophole: trading on nonpublic information obtained through early/special access to government officials' social media. It is not a broad deregulation, subsidy, or commemorative measure.
What the text implies
- The bill's definition of 'prioritized access' may create disputes over what constitutes 'materially different timing or latency'—platforms may argue that algorithmic ranking or standard API access does not trigger the prohibition, potentially creating enforcement ambiguity.
- The 180-day period during which a separated government official remains covered may incentivize trading immediately after leaving office, before the protection expires.
The full analysis lists 5 implications of this text.
Who it affects
Ordinary citizens and retail investors are protected from being disadvantaged by traders who exploit early access to government officials' social media posts. The bill also prevents platforms from profiting by selling special access to government communications, which preserves the principle that government speech should not be a commodity.