Fitzpatrick Leads First-Of-Its-Kinds Bipartisan Bill to Ban Stock Trading and Prediction-Market Betting by Senior Officials Across All Three Branches of Government

WASHINGTON, D.C.- Today, Congressman Brian Fitzpatrick (R-PA-1) partnered with Congresswoman Maggie Goodlander (D-NH-2) to introduce the Public Service Accountability Act, the first bipartisan bill of its kind to prohibit senior officials across all three branches of the federal government from trading individual stocks or participating in prediction markets for the duration of their federal service.

Unlike prior reform efforts focused primarily on Congress or stock trading alone, the Public Service Accountability Act would establish one clear, government-wide standard for Congress, the executive branch, and the federal judiciary-addressing both longstanding conflicts of interest and emerging avenues for officials to profit from positions of public trust.

For Fitzpatrick, a former FBI Special Agent and federal prosecutor who investigated public corruption, campaign finance violations, and election crimes, the legislation is a direct extension of his long-standing work to restore integrity, trust, and accountability to public institutions.

"Public service is a duty, not an investment strategy," said Fitzpatrick. "The American people deserve to know that their leaders are making decisions based on the national interest, not personal financial gain. By closing loopholes around stock trading and prediction markets, this bipartisan legislation sets a clear standard across all three branches: if you are entrusted with public leadership, your obligation is to the people-not your portfolio."

"Right now, senior American officials in some of the most powerful positions of public trust can sit in on sensitive briefings, shape policy, influence markets, and then personally profit from decisions that affect the American people," said Goodlander. "That is wrong. Our bipartisan bill closes gaping loopholes and makes one commonsense rule crystal clear: people who hold public power must serve the public interest, not their own personal profits."

Under current law, the standard penalty for violating federal disclosure rules is often just $200, and no Member of Congress has ever been prosecuted under the STOCK Act. The Public Service Accountability Act would replace symbolic fines with meaningful accountability by prohibiting covered officials from engaging in those activities while in federal service, requiring violators to forfeit any profits, and imposing an additional penalty equal to 10 percent of the value of the investment.

"Those entrusted with power should serve the public interest - not their own financial interests. Issue One strongly supports the bipartisan Public Service Accountability Act as a commonsense reform toward rebuilding public trust in our democratic institutions. Congress should act now and pass this bill," said Nick Penniman, CEO and Founder of Issue One.

"Our government must proactively oppose any invitation to corruption, which requires all three branches to remain independent and make decisions that aren't profit-driven, but in the public interest," said Janice Luong, Policy Analyst at the Project On Government Oversight. "Government employees trading stocks and securities have been a top concern for the American public, and now prediction markets pose a new layer of corruption that Congress needs to crack down on."

The Public Service Accountability Act is endorsed by Issue One and the Project On Government Oversight.

A one-pager on the legislation is available here.

Background:

The Public Service Accountability Act builds on Fitzpatrick's long-standing work to strengthen ethics, transparency, and accountability in government.

Before serving in Congress, Fitzpatrick served as an FBI Special Agent and federal prosecutor, where his work focused on public corruption, campaign finance, and election crimes. That experience has shaped his approach to reform: public institutions cannot function if the people entrusted to lead them are allowed to operate under rules the public would never accept for anyone else.

In Congress, Fitzpatrick has led bipartisan efforts to ban Members of Congress from trading individual stocks and strengthen accountability for public officials. In 2023, he partnered with Representatives Alexandria Ocasio-Cortez and Raja Krishnamoorthi to introduce bipartisan legislation banning Members of Congress from trading individual stocks, helping lay the groundwork for the broader Restore Trust in Congress Act, introduced this past September.

On the first day of the 119th Congress, Fitzpatrick introduced a sweeping reform package focused on congressional accountability, fiscal responsibility, election integrity, and restoring public trust. Recognized as the most bipartisan Member of Congress for five consecutive years, Fitzpatrick has authored four constitutional amendments and seven targeted reform bills aimed at strengthening confidence in government.

The Public Service Accountability Act takes that work further by extending the principle beyond Congress to senior officials across all three branches of the federal government. By addressing both individual stock trading and prediction-market betting, the legislation confronts both long-standing conflicts of interest and new avenues for officials to benefit from public office, privileged information, and decisions made in the name of the American people.