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New “Drain the Swamp” Bill Bars Officials’ Stock Trades

6/16/2026

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Summary

Story summary

Rep. Greg Landsman (Ohio) and Rep. Josh Riley (New York) introduced Drain the Swamp Act in Cincinnati on June 15, 2026.
The bill bars President, Vice President, members of Congress from owning or trading stocks.
It bans betting on political events in prediction markets.
It requires approval before president or his family can sue government.
Landsman, who sold his stocks during 2025 shutdown, said the act is an anti-corruption law.

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Story summary

Rep. Greg Landsman (Ohio) and Rep. Josh Riley (New York) introduced Drain the Swamp Act in Cincinnati on June 15, 2026.
The bill bars President, Vice President, members of Congress from owning or trading stocks.
It bans betting on political events in prediction markets.
It requires approval before president or his family can sue government.
Landsman, who sold his stocks during 2025 shutdown, said the act is an anti-corruption law.