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Can Capitol Hill Break Its Day Trading Addiction?

Among stock traders, it’s common knowledge that you can’t consistently beat the market if you don’t have an edge. Luckily for Washington insiders, day trading is perfectly legal—and, for some, highly profitable.

Nancy Pelosi and Eric Schmidt
Photo by Justin Sullivan/Getty Images
Alex Kantrowitz
January 14, 2022

Mark Warner has a different background than his colleagues in the Senate, one more familiar in Silicon Valley than Washington’s halls. Before Virginians elected him U.S. Senator in 2008, and their governor six years before that, Warner was a venture capitalist and entrepreneur. He co-founded Nextel, a wireless company now owned by Sprint, and then invested in hundreds of startups. Today, he’s worth hundreds of millions of dollars.