U.S. Reps. Brian Fitzpatrick (R-PA) and Maggie Goodlander (D-NH) introduced a bipartisan bill that would prohibit senior officials across all three branches of the federal government from trading individual stocks or participating in prediction markets for the duration of their federal service.
Unlike prior reform efforts focused primarily on Congress or stock trading alone, the Public Service Accountability Act would establish one clear, government-wide standard for Congress, the executive branch, and the federal judiciary. It seeks to address both longstanding conflicts of interest and emerging avenues for officials to profit from positions of public trust.
“Public service is a duty, not an investment strategy,” Fitzpatrick said. “The American people deserve to know that their leaders are making decisions based on the national interest, not personal financial gain. By closing loopholes around stock trading and prediction markets, this bipartisan legislation sets a clear standard across all three branches: if you are entrusted with public leadership, your obligation is to the people—not your portfolio.”
Fitzpatrick is a former FBI Special Agent and federal prosecutor who investigated public corruption, campaign finance violations, and election crimes. This legislation is a direct extension of his work to restore integrity, trust, and accountability to public institutions.
“Right now, senior American officials in some of the most powerful positions of public trust can sit in on sensitive briefings, shape policy, influence markets, and then personally profit from decisions that affect the American people,” Goodlander said. “That is wrong. Our bipartisan bill closes gaping loopholes and makes one commonsense rule crystal clear: people who hold public power must serve the public interest, not their own personal profits.”
Under current law, the standard penalty for violating federal disclosure rules is often just $200, and no member of Congress has ever been prosecuted under the STOCK Act. The Public Service Accountability Act would replace fines with meaningful accountability by prohibiting covered officials from engaging in those activities while in federal service, requiring violators to forfeit any profits, and imposing an additional penalty equal to 10 percent of the value of the investment.
“Those entrusted with power should serve the public interest — not their own financial interests. Issue One strongly supports the bipartisan Public Service Accountability Act as a commonsense reform toward rebuilding public trust in our democratic institutions. Congress should act now and pass this bill,” Nick Penniman, CEO and Founder of Issue One, said.
The Public Service Accountability Act is endorsed by Issue One and the Project On Government Oversight.