No Insider Trading on National Security Act of 2026

119th Congress Introduced by Don Bacon and 2 co-sponsors

The bill requires the DoD Inspector General to report to Congress by Jan 1, 2027 on all insider trading complaints tied to Operation Epic Fury, including outcomes, trends, risks, a

Introduced in House

Purpose and intent

Establishes a requirement for the Inspector General (IG) of the Department of Defense to report to Congress on complaints of insider trading connected to prediction and energy markets during a specified operation, named Operation Epic Fury.

The bill is titled the No Insider Trading on National Security Act of 2026, signaling a focus on preventing or detecting insider trading in contexts related to national security operations.

Key provisions and changes

Short title: The act may be cited as the “No Insider Trading on National Security Act of 2026.”

IG reporting requirement (Section 2):

Timing: The DoD Inspector General must submit a report no later than January 1, 2027.
Scope of the report: It must cover all complaints the IG received regarding insider trading on prediction and energy markets during Operation Epic Fury.
Contents of the report (the six required elements):
The number of complaints received regarding insider trading as described.
Classification of complainants (whether they were members of the Armed Forces, DoD civilian employees, or contractors).
Outcomes of the complaints, including substantiation and any accountability actions taken.
Any identified trends associated with the complaints.
An assessment of operational risks and security vulnerabilities posed by activities described in the complaints.
Recommendations for safeguards to detect, deter, and reduce the likelihood of future insider trading.

Who or what is affected

Department of Defense personnel and related individuals who could be involved in insider trading during national security-related operations, including:

Members of the Armed Forces
DoD civilian employees
DoD contractors

Indirectly affects DoD processes for handling insider trading complaints and improving oversight and safeguards during operations.

Procedural and timeline aspects

Introduction and referral: The bill was introduced in the House and referred to the Committee on Armed Services.

Reporting deadline: January 1, 2027, for the IG’s comprehensive report to Congress.

Legislative outcome to monitor: The bill sets a reporting requirement but does not specify additional enforcement mechanisms beyond potential accountability actions noted in the IG report. It does not create new penalties within the bill text itself.

Potential impact and considerations

enhances transparency and oversight by requiring a formal, public IG report on insider trading allegations tied to a national security operation.

may inform Congress and DoD leadership on the adequacy of existing safeguards and where gaps exist.

could lead to strengthened internal controls, monitoring, and deterrence measures if the IG’s recommendations are adopted.

the focus on prediction and energy markets suggests concern about financial markets linked to military operations or information-sensitive contexts.

If you’d like, I can compare this bill to existing insider trading or DoD oversight authorities, or draft a one-page executive summary for lawmakers or staff briefings.