No Profiting from Public Service Act

Key Points

• The bill bans the President, Vice President, Members of Congress, federal judges, and top political appointees from owning or trading individual stocks, commodities, futures, or similar investments while in office.
• The ban also covers spouses and dependent children of these officials, closing a loophole where family members could trade on information the official has access to.
• Officials already in office when the law passes get 90 days to sell their covered investments or move them into a blind trust managed independently of their control.
• Anyone who breaks the rules has to pay a fine equal to 10 percent of the investment's value and hand over any profits made from the illegal trade to the U.S. Treasury.
• The bill also stops officials and candidates from betting on political or government outcomes through prediction market contracts, preventing profit from events they can influence.
• Small businesses and family farms or ranches owned by officials are exempted from the divestment requirement, so officials will not be forced to sell off those interests.