Nancy Pelosi Politician · CA-11, final term Watchlist subject 2 receipts on record 0 honest (words matched hands) · 1 tell · 1 routine
Files: PTR (STOCK Act) · roll-call votes Nancy Pelosi (household) A month after filing new options bets, she voted No on banning them.
The Quote
Voted No on H.R. 7008, the Stop Insider Trading Act, which bars members and spouses from buying individual stocks. It passed the House 232 to 198.
Roll Call 280 · Jul 22, 2026The Action
Spouse's PTR disclosed two fresh leveraged positions: 200 INTC calls ($1M to $5M) and 200 UBER calls ($500K to $1M), both $50 strike, expiring 3/19/27. Her first disclosed trades in five months, in her final term.
PTR Filing #20034836 · Transacted May 29 · Filed Jun 23, 2026The Gap
New options purchases disclosed roughly four weeks before voting against a ban on exactly that activity.
The Read
Three caveats, and the third one changes the story: the bill grandfathers existing holdings, so only new purchases would have been banned; some reporting says she endorsed a ban in principle before voting No on this bill; and the primary roll call shows this was a party-line vote. Democrats opposed it 198 to 13 while Republicans passed it 218 to 0. Her No was the standard Democratic position on a Republican bill, not a personal defection to protect a portfolio.
What survives the caveats is narrower but still real: she belongs to the small set of members for whom this vote and an active seven-figure options book coexist, weeks apart, with disclosure obligations ending in January. That is not a tell about intent. It is a structural fact about incentives that voters can weigh. The headlines will dress this up as a personal vote. The record says otherwise, and saying so is the whole brand.