No Profiting from Public Service Act

The "No Profiting from Public Service Act" aims to prevent conflicts of interest by restricting financial activities for federal officials, their spouses, and dependent children, including Members of Congress, judicial officers, and high-level executive branch appointees. It prohibits the direct or indirect ownership or trading of "covered investments," such as securities, commodities, and futures, and bans prediction market contracts tied to political events. However, exemptions exist for widely held diversified investment funds , qualified blind trusts, diversified mutual and exchange-traded funds, and government bonds, among others. To comply, covered officials must divest prohibited investments or place them into a qualified blind trust within 90 days of the bill's enactment or becoming a covered official. Blind trusts cannot be dissolved until 180 days after the official leaves office, and an occupational exception allows spouses or dependent children to trade if it's part of their primary job and not owned by the official. Supervising ethics offices are responsible for issuing certificates of divestiture and providing guidance. Violations incur a fine equal to 10 percent of the covered investment's value and disgorgement of any profits, with penalties deposited into the Treasury. Losses from prohibited trades are not tax-deductible, and fines cannot be paid from official allowances or campaign contributions. Each supervising ethics office must publicly disclose details of all assessed fines and their reasons, ensuring transparency.