NO PROFIT Act

Key Points

• This bill stops people from using special, early access to government social media posts to make money in the stock market. It targets fast-track data feeds that let some investors see what officials post before the general public can see it on their phones or computers.
• The rules apply to posts from the President, Vice President, members of Congress, and high-ranking officials in the executive and judicial branches. It also covers their family members and official government agency accounts to ensure no one gets an unfair head start.
• Social media companies would be banned from selling or giving away this early access to government accounts. If a company breaks this rule, the government can sue them to take back all the money they made from the deal.
• Investors who get this early info would be banned from buying or selling stocks, commodities, or making bets on future events until the information is available to everyone for free. They also cannot tip off others to trade for them while the info is still private.
• There are exceptions for emergency alerts, like warnings about public health or natural disasters. Social media sites can still use their normal algorithms to show you posts they think you will like, as long as they are not charging for early access to government news.

Impact Analysis

Govbase has not yet run an impact analysis on this legislation.