The two lawmakers involved are Republican Representative Dan Meuser, who purchased between $15,000 and $50,000 worth of SpaceX stock on June 15, and Democratic Representative Gil Cisneros, who acquired between $1,001 and $15,000 worth on June 18; the former oversees securities and exchange matters, while the latter supervises the Department of Defense, a major client of SpaceX.
$SpaceX (SPCX.US)$ Following the record-breaking IPO, U.S. lawmakers’ subsequent purchases have begun to surface, raising concerns about potential conflicts of interest.
According to publicly filed financial disclosure documents from the U.S. House of Representatives, two members of Congress or their family members purchased SpaceX shares within days of the company’s listing, marking the earliest known congressional-level holdings to date. Similar transactions are expected to emerge in large numbers as additional disclosure filings become public over the coming weeks.
The two lawmakers involved are Representative Dan Meuser, a Republican, and Representative Gil Cisneros, a Democrat. Representative Meuser serves on the House Financial Services Committee, which oversees securities and trading matters, while Representative Cisneros sits on the House Armed Services Committee, which supervises the Department of Defense—a major customer of SpaceX.
There is currently no evidence indicating that either lawmaker used non-public information for these trades or violated any laws.
Disclosure details of the two lawmakers
According to the disclosure filings, a dependent child of Dan Meuser purchased SpaceX stock valued between $15,000 and $50,000 on June 15, marking his first disclosed purchase of an individual stock in several years. Gil Cisneros purchased SpaceX shares valued between $1,001 and $15,000 on June 18.
In a statement, Cisneros indicated that his investment portfolio is managed by an independent financial advisor, that he does not participate in day-to-day trading decisions, and that he has never recommended any transaction during his tenure in Congress or at the Department of Defense. Cisneros stated:
"I have always complied with all regulations regarding stock trading and financial disclosures, and I will continue to advocate for enhanced ethical oversight of the financial portfolios of federally elected and politically appointed officials."
Under the Stop Trading on Congressional Knowledge (STOCK) Act, members of Congress are required to disclose securities transactions made by themselves, their spouses, and their dependent children. Current rules permit lawmakers and their immediate family members to hold and trade individual stocks, provided they adhere to disclosure requirements and do not use confidential information obtained through their official duties.
SpaceX completes record-breaking IPO; share price retreats from highs
SpaceX went public on June 12, raising approximately $75 billion in what became the largest initial public offering (IPO) in history. The stock opened at $150 per share, and the company’s market capitalization quickly surpassed $2 trillion, making this IPO a real-world test of market confidence in Elon Musk and demand for artificial intelligence.
As of Thursday’s market close, SpaceX shares traded at $162, up roughly 8% from the $150 opening price but down about 20% from the June 16 closing high of $201.80.
This IPO is also seen as the vanguard of a wave of large private technology companies preparing to go public. AI firm Anthropic has already confidentially filed for a U.S. IPO, followed by OpenAI, which is targeting a valuation as high as $1 trillion.
Legislation banning members of Congress from trading stocks remains stalled.
Stock ownership by members of Congress has long existed in a regulatory gray area. Legislative efforts to impose a ban have dragged on for years but repeatedly stalled. House Republican leadership pledged last December to advance a bill prohibiting lawmakers from trading individual stocks during their terms, and a similar Senate proposal cleared committee review in July 2025; however, neither chamber has taken further action on the ban.
Meanwhile, financial entanglements between Congress and major tech firms continue. According to prior media reports, the husband of Representative Lisa McClain—a senior House Republican leader from Michigan—purchased up to $250,000 worth of xAI stock before Musk merged xAI into SpaceX.
There is likewise no evidence that McClain used non-public information. Her spokesperson, Joe Buccino, stated:
"Chairwoman McClain’s investments are all matters of public record and were made in full compliance with House rules and applicable laws."
The transactions disclosed so far likely represent only the tip of the iceberg, and more members of Congress from both parties are expected to disclose their trades related to SpaceX around the time of its IPO.
Editor/Jeffy