The first batch of U.S. Congress members bought SpaceX records: lawmakers from both parties were involved.

After SpaceX's record-breaking IPO, purchases by U.S. lawmakers have begun to surface, raising concerns over conflicts of interest.

According to public financial disclosure filings from the U.S. House of Representatives, two members of Congress or their family members bought shares of SpaceX within days of its IPO, marking the earliest known congressional holdings on record. As disclosure documents are released over the coming weeks, a surge in similar transactions is expected.

The two lawmakers involved are Republican Rep. Dan Meuser and Democratic Rep. Gil Cisneros. Meuser serves on the House Financial Services Committee, which oversees securities and trading matters, while Cisneros sits on the House Armed Services Committee, which oversees the Department of Defense — a key customer of SpaceX.

There is currently no evidence that either lawmaker traded on non-public information or violated any laws.

Details of the lawmakers' disclosures

According to the filings, a dependent child of Dan Meuser purchased between $15k and $50k worth of SpaceX stock on June 15, marking the first time in years he has disclosed an individual stock purchase. Gil Cisneros purchased between $1,001 and $15k 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 that he has never recommended any trades while serving in Congress or the Department of Defense. Cisneros stated:

"I have always followed all rules regarding stock trading and financial disclosures, and I will continue to advocate for stronger ethics oversight of the financial portfolios of federal elected and appointed officials."

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

SpaceX's record IPO, stock pulls back from highs

SpaceX went public on June 12, raising approximately $75 billion in the largest IPO in history. Shares opened at $150, and the company's market cap quickly surpassed $2 trillion, making the listing a market test of demand for Elon Musk and artificial intelligence.

As of Thursday's close, SpaceX stock was trading at $162, up about 8% from its $150 opening price, but down about 20% from its June 16 closing high of $201.8.

The IPO is also seen as a precursor to a wave of large private tech companies going public. AI company Anthropic has confidentially filed for a U.S. IPO, with OpenAI following suit, potentially targeting a valuation of up to $1 trillion.

Legislation to ban lawmakers from trading stocks remains stalled

The issue of lawmakers holding stocks has long been in a regulatory gray area, with efforts to pass a ban progressing slowly and repeatedly stalling. House Republican leadership had pledged last year to advance a bill banning lawmakers from trading individual stocks while in office, and a similar Senate proposal cleared committee in July 2025, but neither chamber has taken further action on a ban.

Meanwhile, the intertwining of interests between Congress and tech giants continues. According to earlier media reports, the husband of House Republican Conference Chair Lisa McClain of Michigan bought up to $250k in xAI stock before Musk merged xAI into SpaceX.

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

"Chairman McClain's investments are a matter of public record and have been made in compliance with House rules and applicable law."

The transactions disclosed so far are likely just the tip of the iceberg, with more lawmakers from both parties expected to disclose their stock trades around the SpaceX IPO in the coming weeks.