Hegseth claims ignorance on any insider trading from DOD: 'big fat negative'

Hegseth Claims Ignorance On Any Insider Trading From DOD: 'Big Fat Negative'
From the PEP Radio Newsroom, we have this news from HuffPost:
Defense Secretary Pete Hegseth stumbled over his answers in response to questions from Sen. Elizabeth Warren (D-Mass.) about reports of insider trading by people – including the secretary himself – using secret information from the Pentagon about future military operations.
"What happens in betting markets is not something we're involved in," Hegseth said when Warren brought up the lack of charges against officials "making out like bandits" by making suspicious oil trades during the Iran war.
"What happens in betting markets doesn't matter to you, even if the information may be coming from insiders in your office?" Warren asked, before following with a question about a Financial Times report saying Hegseth's broker tried to invest in a defense-related fund just before the war.
Hegseth denied the report to Warren with a "big, fat negative." He also denied giving a personal sign-off to his broker as a "bigger, fatter negative," sparking shock from the senator that the top defense official's broker is not consulting him before potentially investing in defense stocks.
Hegseth claimed his broker knows he needs his sign-off.
The exchange comes on the same day that research by the Anti-Corruption Data Collective reveals evidence of insider trading by people with classified information.
According to the report, "long-shot bets" in military markets and defense actions had an average win rate of 52% on Polymarket – a startling difference compared to a 25% win rate across all politics-focused markets.
That’s what we know for now. From the PEP Radio Newsroom, I’m David Moore.
Posted: April 30, 2026, at 3:41 PM EDT

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