No Profiting from Public Service Act
Sponsored By: Representative McDonald Rivet, Kristen [D-MI-8]
Introduced
Summary
Bars covered officials from owning or trading certain investments tied to markets or political events. The bill would force divestiture for prohibited holdings, ban participation in prediction market contracts about political or government events, and set definitions and compliance steps for covered assets.
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- Covered officials and candidates, including Members of Congress, the President, the Vice President, federal judges, and senior executive appointees, would be barred from directly or indirectly owning or trading "covered investments." They would face divestiture requirements and must submit certificates of divestiture when required.
- Spouses and dependent children of those officials are treated as covered officials for holdings rules, though the bill lists specific exclusions. Allowed holdings include qualified blind trusts, widely held diversified funds, diversified mutual funds and ETFs, U.S. Treasury securities, state and municipal securities, certain small business interests, Alaska Native settlement stock, and a Member's personal-residence real estate LLC.
- Supervising ethics offices handle enforcement and must publicly post violations and penalties. Penalties include a 10 percent fine on the value or profits from a prohibited investment, disgorgement of profits, deposit of penalties into the general fund of the Treasury, and related losses would not be tax deductible.
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Bill Overview
Analyzed Economic Effects
6 provisions identified: 1 benefits, 4 costs, 1 mixed.
90-day divestment and blind trust
If enacted, covered officials would have 90 days to sell or place any covered investment into a qualified blind trust. The 90-day deadline would apply to officials who are in office on enactment, to those who become officials after enactment, and to assets acquired by marriage, inheritance, or divorce. A qualified blind trust could not be dissolved or controlled by the official until 180 days after they leave office. Engaging in prohibited activities within 180 days after separation could trigger penalties.
New investment ban for officials
If enacted, the bill would bar covered officials — such as Members of Congress, judges, the President and Vice President, and certain senior federal officers — from directly or indirectly owning or trading covered investments. "Covered investments" would include securities, commodities, futures, and similar synthetic interests. The bill would list many common exclusions, like diversified mutual funds and ETFs, U.S. Treasury and state or municipal bonds, qualified blind trusts, certain small business and family farm interests, and some Alaska Native stock.
New fines and ethics guidance
If enacted, supervising ethics offices would have to issue guidance to explain unclear terms in the law. They could impose a fine equal to 10% of the value of a covered investment or contract and require disgorgement of any profits when someone violates the rules. Every assessed fine, the reason, and the result would have to be posted publicly. The bill would bar paying fines from Members' allowances, Senate accounts, or campaign contributions.
Spouse and dependent trading exception
If enacted, the bill would allow a spouse or dependent child to trade a covered investment only if the investment is not owned by the covered official and trading is the spouse's or dependent child's primary job. This preserves trading and employment opportunities for family members who work as professional traders while the official remains subject to the ban.
Prediction market ban for officials
If enacted, the bill would prohibit covered officials and covered individuals from entering into or offering prediction market contracts tied to political or government events. The bill would define "prediction market contract" broadly to include event-linked contracts offered on any platform, even if the platform is outside the United States. Covered individuals could not accept or offer those event contracts.
Divestiture certificates and tax limits
If enacted, supervising ethics offices would issue certificates of divestiture when covered officials prove they complied with divestiture rules. The certificate would identify each covered property eligible for the program. The bill would also say covered officials cannot use Internal Revenue Code section 1043 rollover treatment for those sales. In addition, losses from prohibited prediction market contracts or covered investments could not be deducted from income tax.
Sponsors & CoSponsors
Sponsor
McDonald Rivet, Kristen [D-MI-8]
MI • D
Cosponsors
Rep. Kiley, Kevin [I-CA-3]
CA • I
Sponsored 6/30/2026
Rep. Landsman, Greg [D-OH-1]
OH • D
Sponsored 6/30/2026
Rep. Vindman, Eugene Simon [D-VA-7]
VA • D
Sponsored 6/30/2026
Roll Call Votes
No roll call votes available for this bill.
View on Congress.gov