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International Business Times UK
International Business Times UK
Business
Niloy Chakrabarti

MAGA Lawmaker Accused of Insider Trading Musk's xAI Shares Days Before US DoD, Pentagon Expansion

McClain said they wouldn’t have bought only 100,000 shares if it were based on inside info. (Credit: YouTube)

The debate over whether US Congress members should be permitted to trade stocks has intensified following allegations concerning Congresswoman Lisa McClain's recent trading activity, which has raised questions about possible insider trading.

McClain is an active stock trader, with trading volumes reportedly exceeding $13 million (£9.7 million) in 2025, according to Quiver Quantitative. The chairwoman of the House Republican Conference has publicly denied any involvement in insider trading. This comes after a 7th January periodic transaction report revealed that her husband purchased up to $250,000 (£186,622) worth of xAI's private stock on 15th December — just days before the US Department of Defense announced plans on 22nd December to incorporate xAI's Grok into the GenAI.mil platform.

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