DeSantis Questions Congressional Stock Trading Returns

Florida's governor says lawmakers with no investing history are outperforming Warren Buffett, reigniting the push for a trading ban.

Updated on Nov. 13, 2026 in Investing

DeSantis Questions Congressional Stock Trading Returns

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Should members of Congress be banned from trading individual stocks?

Florida Gov. Ron DeSantis questioned how congressional members with no investing history outperform Warren Buffett during a Nov. 4 press conference in Tallahassee, the day after the midterm elections. DeSantis said he has not traded stocks since entering elected office, having given up trading after winning his first U.S. House race in 2012.

Why it matters

DeSantis argued that failing to act on congressional stock trading hurt his party at the ballot box, placing the issue at the center of Florida's political debate. For Florida voters, it raises whether federal candidates will disclose their plans to trade individual stocks if elected.

Trading returns compiled by Unusual Whales show Republican congressional traders averaged 17.3% and Democratic traders 14.4%, compared with a 16.6% gain for the SPDR S&P 500 ETF Trust in 2025. Whether these figures reflect insider advantage or chance has not been established.

The players

Ron DeSantis

Ron DeSantis is the Governor of Florida who has pushed for disclosure rules and a congressional stock trading ban.

Anna Paulina Luna

Anna Paulina Luna is a Florida Republican U.S. Representative who has led the push for banning congressional stock trading.

The details

DeSantis proposed making Florida's federal candidates disclose whether they plan to trade individual stocks if elected and backed Florida Republican Rep. Anna Paulina Luna's push for a congressional trading ban. The House passed the Stop Insider Trading Act 232-198 on July 22; the bill would bar lawmakers, their spouses and dependent children from buying new individual stocks while allowing them to keep existing shares.

2012: DeSantis gave up stock trading after winning his first U.S. House race.
July 22: The House passed the Stop Insider Trading Act 232-198.
Sept. 30: The bill stalled in the Senate after a voter identification requirement was attached.
Nov. 4: DeSantis questioned congressional trading returns at a Tallahassee press conference.
January: Democrats are set to take over the House, having vowed to pass their own trading ban.

Market Dynamics

The debate follows the Stop Insider Trading Act, which the House passed 232-198 before it stalled in the Senate on Sept. 30 after Republicans attached a voter identification requirement. Congressional trading returns are now being weighed against the broader market, where the SPDR S&P 500 ETF Trust gained 16.6% in 2025.

Florida voters weighing federal candidates may now ask whether a candidate plans to trade individual stocks if elected. For personal investors, the comparison shows that a 2025 S&P 500 ETF gain of 16.6% matched or exceeded average congressional trader returns reported at 14.4% to 17.3%.

The takeaway

Trading returns reported for lawmakers should be compared against a simple market benchmark before drawing conclusions about insider advantage. Benchmarks such as the S&P 500 ETF provide a plain standard for judging performance.