First batch of U.S. Congress members’ SpaceX purchase records exposed: Members from both parties involved
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After SpaceX's record-breaking IPO, follow-up purchases by U.S. members of Congress have come to light, raising concerns about conflicts of interest.
According to publicly disclosed financial documents from the U.S. House of Representatives, two members of Congress or their family members bought shares in SpaceX within days of its listing, marking the earliest known stock holdings at the Congressional level. It is expected that similar transactions will emerge in large numbers as disclosure documents are released in the coming weeks.
The two involved lawmakers are Republican Congressman Dan Meuser and Democratic Congressman Gil Cisneros. The former serves on the House Financial Services Committee, which supervises securities and market transactions; the latter serves on the House Armed Services Committee, which oversees the Department of Defense—an important customer of SpaceX.
There is currently no evidence that either used non-public information for trading or violated any law.
Disclosure details of the two lawmakers
According to disclosure documents, Dan Meuser's dependent child purchased $15,000 to $50,000 worth of SpaceX stock on June 15, marking his first disclosed stock buy in years. Gil Cisneros purchased $1,001 to $15,000 worth of SpaceX stock on June 18.
In a statement, Cisneros said his investment portfolio is managed by an independent financial advisor, that he does not participate in daily trading decisions, and has never advised any transaction while serving in Congress or the Department of Defense. Cisneros stated:
"I always abide by all regulations regarding stock trading and financial disclosure, and will continue to advocate for strengthened ethical oversight on the financial investment portfolios of federal elected and political appointee officials."
According to the STOCK Act, members of Congress must disclose securities transactions by themselves, their spouses, and dependent children. Current regulations allow lawmakers and their immediate family members to hold and trade individual stocks, provided disclosure rules are followed and confidential information obtained through their positions is not used.
SpaceX's record-breaking IPO and stock price pullback
SpaceX went public on June 12, setting a record for the largest IPO ever with a fundraising scale of approximately $75 billion. Shares opened at $150, and the company’s market value quickly broke through $2 trillion, making the IPO a real-world test of market confidence in Elon Musk and AI demand.
As of last Thursday's close, SpaceX stock was priced at $162, up about 8% from the $150 opening, but down about 20% from its June 16 peak of $201.8.
This IPO is also seen as a precursor to a wave of major private tech companies going public. AI company Anthropic has secretly filed for a U.S. IPO, and OpenAI plans to follow, aiming for a valuation as high as $1 trillion.
Congressional ban on stock trading remains deadlocked
The issue of members of Congress holding stocks has long been in a regulatory gray area, and related legislative bans have stalled year after year. House Republican leadership had pledged at the end of last year to push a bill banning stock trading by lawmakers during their terms, and a similar Senate proposal was reviewed by committee in July 2025, but neither chamber has taken further action on the ban.
Meanwhile, entanglements of interests between Congress and tech giants continue. According to previous media reports, the husband of House Republican leader and Michigan Representative Lisa McClain bought up to $250,000 worth of xAI stock before Elon Musk merged xAI into SpaceX.
Again, there is no evidence that McClain used non-public information. Her spokesperson, Joe Buccino, stated:
"Chairwoman McClain's investments are all public record and comply with House rules and applicable laws."
The disclosed trades likely represent only the tip of the iceberg; more members of Congress from both parties are expected to disclose their SpaceX IPO-related trades over time.
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