Do Members of Congress Beat the Market? The Data
Academic research has consistently suggested that members of Congress outperform the stock market. But does the data support this claim in recent years? Let's look at the numbers.
The Academic Evidence
- 2004 Study (Ziobrowski et al.): US Senators outperformed the market by ~12%/year
- 2011 Follow-up: House members outperformed by ~6%/year
- Multiple studies have found statistically significant abnormal returns
The Data on The Insiders Lab
We track 57,298 disclosed trades by 377 Congress members across 3670 tickers. Our member profiles show individual trading histories and can help identify which members have the strongest track records.
Most Active Traders (by disclosure count)
| Member | Total Trades |
|---|---|
| Josh Gottheimer | 3497 |
| Thomas MacArthur | 3055 |
| Perdue, David | 2564 |
| Gilbert Cisneros | 2376 |
| Lisa McClain | 1665 |
Important Caveats
- Survivorship bias: We only see trades that were disclosed
- Reporting delays: Up to 45 days between trade and disclosure
- Correlation ≠ causation: Outperformance doesn't prove insider knowledge
- Past performance: Historical results don't guarantee future returns
Explore individual member profiles to form your own view.
Frequently Asked Questions
Q: Is it legal to trade based on congressional disclosures?
A: Yes. STOCK Act filings are public records. Using publicly available information for investment decisions is legal. We provide data for informational purposes only.
Q: How quickly can I see new trades?
A: The Insiders Lab scans official databases frequently. New PTRs appear on our platform shortly after they're filed. Set up alerts →
Q: Should I blindly copy congressional trades?
A: No. Congressional trading data is one input among many. Always do your own research, consider the 45-day filing delay, and manage your risk appropriately.
All data sourced from official US government STOCK Act filings. Not financial advice. Terms | NFA Disclaimer