Everything you need to know about tracking smart money
Technically no. The STOCK Act of 2012 made it illegal for members of Congress to trade on non-public information obtained through their official duties.
In practice? Enforcement is nearly non-existent:
The penalty for late disclosure is just $200
Proving someone traded on "insider information" is extremely difficult
The DOJ rarely pursues cases against sitting members
Many trades happen through "blind trusts" that aren't actually blind
Since the STOCK Act passed, only a handful of members have faced any consequences -- and those were for late filings, not insider trading itself.
The result: Congress members consistently outperform the market. Exposed members' portfolios beat the S&P 500 by 6% annually on average. Legal or not, the trades are public record -- and that's what WhaleScope tracks.