First Batch of U.S. Members of Congress’ Buys of SpaceX: Evidence Emerges Involving Lawmakers from Both Parties

After SpaceX’s record-breaking IPO went through, follow-up buy-ins by U.S. lawmakers began to come to light, prompting outside attention on potential conflicts of interest.

According to public financial disclosure documents from the U.S. House of Representatives, two members of Congress—or members of their families—purchased shares of SpaceX within days after the company listed, becoming the earliest known congressional-level shareholding records at present. It is expected that, as more disclosure documents are released over the coming weeks, similar transactions will emerge in large numbers.

The two lawmakers involved are Republican U.S. Representative Dan Meuser and Democratic U.S. Representative Gil Cisneros. The former, as a member of the House Financial Services Committee, oversees securities and trading matters, while the latter, serving on the House Armed Services Committee, oversees the Department of Defense—which is an important customer of SpaceX.

At present, there is no evidence that either used non-public information to trade or violated any law.

Details of the lawmakers’ disclosures

According to the disclosure documents, a dependent child of Dan Meuser bought SpaceX stock worth between $15,000 and $50,000 on June 15, marking the first time in years that the purchase of an individual stock was disclosed. Gil Cisneros, meanwhile, bought SpaceX stock worth between $1,001 and $15,000 on June 18.

In a statement, Cisneros said that his investment portfolio is managed by an independent financial adviser; he does not participate in day-to-day trading decision-making; and he has never recommended any transactions during his time serving in Congress or at the Department of Defense. Cisneros said:

“I have always complied with all requirements regarding stock transactions and financial disclosures, and I will continue to advocate for stronger ethical oversight of the financial investment portfolios of federally elected and politically appointed officials.”

Under the STOCK Act, members of Congress must disclose securities transactions by themselves, their spouses, and their dependent children. Under the current rules, lawmakers and their immediate family members are allowed to hold and trade individual stocks, provided they comply with the disclosure requirements and do not use confidential information obtained through their official positions.

SpaceX sets record with IPO; the stock price retreats from highs

SpaceX went public on June 12, setting the record for the largest IPO in history with a financing scale of approximately $75 billion. The stock opened at $150, and the company’s market capitalization quickly surpassed $2 trillion, turning this listing into an empirical test of market demand for Musk and artificial intelligence.

As of last Thursday’s close, SpaceX shares were at $162, up about 8% from the $150 opening price, but down about 20% from the June 16 closing high of $201.8.

The IPO is also seen as a sign of an upcoming wave of concentrated listings by large private technology companies. The AI company Anthropic has secretly filed for a U.S. IPO, and OpenAI subsequently followed suit, targeting a valuation that could be as high as $1 trillion.

Congressional efforts to ban lawmakers from trading stocks still stuck in limbo

The issue of lawmakers holding stocks has long sat in a regulatory gray area. Related ban legislation has been pushed forward for years but repeatedly hit obstacles. U.S. House Republican leadership had promised toward the end of last year to push a bill to prohibit lawmakers from trading individual stocks during their terms, and a similar proposal in the Senate was passed for committee review in July 2025, but neither chamber has taken further action on the ban.

Meanwhile, the intertwining of interests between Congress and tech giants continues. As reported by the media earlier, the husband of Lisa McClain, a Republican U.S. Representative from Michigan and a top leader in House Republicans, previously bought xAI stock worth up to $250,000 before Elon Musk merged xAI into SpaceX.

Likewise, there is no evidence that McClain used non-public information. Her spokesperson, Joe Buccino, said:

“Chairman McClain’s investments are all matters of public record and were conducted in accordance with House rules and applicable laws.”

The disclosed transactions are likely only the tip of the iceberg. It is expected that more lawmakers from both parties will continue to release their trading records before and around the SpaceX IPO.

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