Overview
- Senators Mark Warner and Adam Schiff, in letters sent Thursday, asked SEC Chair Paul Atkins and Pentagon Inspector General Platte Moring to review recent trading tied to federal announcements.
- They requested details on the tools used to detect suspicious trades, any gaps in agency monitoring, and safeguards meant to keep officials from using nonpublic information for profit.
- News reports cited large bets in stocks, derivatives, commodities, and prediction markets placed before announcements on the Iran war, tariffs, and the capture of Venezuela’s Nicolás Maduro.
- The Financial Times reported that a broker linked to Defense Secretary Pete Hegseth sought a multimillion-dollar buy in a defense fund before the White House moved on Iran, and the White House denied wrongdoing.
- The SEC declined to comment and the Defense Department inspector general did not immediately respond, while the senators warned that even the appearance of leaks can erode trust in U.S. markets and touch national security.