Senators’ stock trades directly overlapped with their committee work, CNN analysis finds

Recent congressional disclosures have revived concerns over lawmakers’ stock trading after a CNN analysis found that at least ten US senators reported buying or selling shares in companies tied to industries overseen by their committees. While the trades comply with existing laws, watchdog groups argue the overlap highlights enduring conflict-of-interest risks and the lack of meaningful reform.

Financial filings reviewed by CNN and compiled via Capitol Trades show that several senators held or traded stocks connected to sectors under their legislative purview. Those identified included Republicans Bill Hagerty, John Kennedy, Ashley Moody, Jerry Moran, Bernie Moreno, Markwayne Mullin, and Tommy Tuberville, along with Democrats John Hickenlooper, Gary Peters, and Sheldon Whitehouse. Although many maintain diversified portfolios, critics say such transactions fuel public skepticism.

Ethics advocates emphasize that perception alone can damage trust. Dylan Hedtler-Gaudette of the Project on Government Oversight described the issue as “bipartisan,” pointing to systemic weaknesses in disclosure rules. Polling data has consistently shown strong voter support for restricting or banning congressional stock ownership.

Several recent trades drew particular attention. Senator Ashley Moody, who serves on the Senate’s health committee, disclosed investments in multiple healthcare firms, including Eli Lilly. The pharmaceutical giant remains active in drug-pricing debates and spent millions lobbying Congress last year. Moody’s office stated she neither initiated nor approved the trades, attributing decisions to an external investment partnership and noting her withdrawal from the arrangement.

Democrat John Hickenlooper reported investing in cybersecurity company Palo Alto Networks while sitting on the Senate Commerce Committee. The disclosure came months before a federal procurement program expanded agency access to the firm’s products. Hickenlooper’s spokesperson stressed that his assets are held in a blind trust managed independently.

Republican Markwayne Mullin disclosed a sale of Abbott Laboratories stock amid the company’s lobbying activity and ongoing legal challenges. His office cited the use of a third-party investment manager operating under ethics compliance procedures. Senator Sheldon Whitehouse similarly distanced himself from disclosed UnitedHealth holdings, stating that portfolio decisions are handled without his involvement.

Senator Jerry Moran’s filings showed a purchase of Alphabet shares on the same day he attended a Commerce Committee hearing on artificial intelligence. Though Alphabet executives did not testify, the Senate was actively considering AI-related regulatory proposals at the time. Moran’s office reiterated that a broker manages his investments with full discretion.

Ethics experts argue that claims of independence do not fully resolve transparency concerns. Emma Lydon of P Street noted that lawmakers often outperform market benchmarks, a trend that intensifies scrutiny. Kedric Payne of the Campaign Legal Center added that proving insider trading is difficult, yet potential conflicts persist under current rules.

Meanwhile, efforts to tighten regulations have stalled. The Restore Trust in Congress Act, once viewed as a bipartisan compromise, has struggled to advance. Competing proposals and partisan divisions continue to delay comprehensive restrictions, leaving the broader debate unresolved.