NO PROFIT Act
Sponsored By: Senator Warner, Mark R. [D-VA]
Introduced
Summary
This bill would ban trading on nonpublic, prioritized social-media information tied to covered government officials. It would also stop platforms from selling or otherwise providing early or faster access that lets some people trade before the public.
Show full summary
- Traders and investors: Would be prohibited from buying, selling, or causing trades based on prioritized nonpublic information from those accounts. Violations connected to securities would be enforced by the SEC and those tied to commodities by the CFTC.
- Social platforms: Would be unlawful for platforms to knowingly offer or sell prioritized access to covered social accounts. Civil penalties could require platforms to forfeit the revenue they earned from the offending prioritized access.
- Government and first responders: Federal, state, Tribal, territorial, and local agencies or first responders could still receive prioritized delivery for public health or emergency communications at no fee to third parties.
- Rulemaking and enforcement: The SEC and CFTC would need to issue joint implementing rules within 180 days, and the Attorney General could bring civil actions to recover penalties for platform violations.
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Bill Overview
Analyzed Economic Effects
3 provisions identified: 0 benefits, 2 costs, 1 mixed.
Ban paid priority for officials
This bill would make it unlawful for social media platforms to knowingly sell, license, or otherwise provide paid prioritized access to posts from covered accounts. Normal algorithmic ranking that costs no extra would still be allowed. Platforms could give prioritized access to government agencies or first responders for public-health, safety, or emergency messages only if no fee is charged to third parties. Programmatic API or data licensing could be offered only on reasonable, non-discriminatory terms and could not give earlier access or faster delivery because of payment. The Attorney General could sue to recover civil penalties equal to the revenue the platform received from the illegal prioritized access.
Ban trading on early official posts
This bill would ban trading on material nonpublic information posted early through covered officials' social media. You would not be allowed to buy, sell, or otherwise transact in stocks, security-based swaps, commodities, futures, options, swaps, or speculative information market contracts while aware the information came from prioritized access and before it was generally available. You also would not be allowed to cause another person to trade or to tell someone likely to trade while the information was still nonpublic. The SEC would enforce the rules for securities and the CFTC would enforce the rules for commodities. The SEC and CFTC would have to issue joint implementing rules within 180 days after enactment.
Which officials and accounts are covered
This bill would define who counts as a covered government official and which social accounts are covered. Covered officials would include the President, Vice President, Members of Congress, congressional staff, executive branch staff, judges, and judicial staff. A person would still be treated as covered during the 180-day period after leaving the job. The bill would also define covered family members, what counts as a covered social media account, what prioritized access means, what prioritized covered information is, and when information is "generally available."
Sponsors & CoSponsors
Sponsor
Warner, Mark R. [D-VA]
VA • D
Cosponsors
Sen. Gallego, Ruben [D-AZ]
AZ • D
Sponsored 8/7/2026
Roll Call Votes
No roll call votes available for this bill.
View on Congress.gov