Lawmakers are already bound by a 2012 law, the STOCK Act, that bans trading anchored in insider information and requires regular disclosures of transactions. But it’s regularly flouted, and the punishments it envisions are not that robust.

Calif., bans members of Congress and their spouses from trading and holding stocks. Pelosi, former Speaker of the House, has been criticized

Karoline Leavitt pointed to Nancy Pelosi's stock portfolio outperforming Warren Buffett and every Wall Street hedge fund as evidence that members of Congress shouldn't be allowed to trade stocks based on information they hear as lawmakers.