The Rubin Report

Episode: How One Law Could Finally Force Both Parties to Stop Insider Trading for Good
Guest: Congresswoman Anna Paulina Luna
Date: December 23, 2025

Overview

In this episode, Dave Rubin sits down with Congresswoman Anna Paulina Luna to discuss her efforts to pass legislation banning insider trading among members of Congress, their families, and close associates. The conversation delves into the widespread bipartisan support among the American public for such a ban, the political resistance from within both parties, the specific mechanics of the legislation, and broader issues facing Florida and the nation. Luna also touches on issues like pharmaceutical pricing, federal versus state power, and future challenges and priorities for Republicans leading into the next election cycle.

Key Discussion Points & Insights

Exposing Congressional Insider Trading

• Public Outrage & Numbers

  • Luna emphasizes the overwhelming public disdain for Congressional insider trading:
    "Over 87% or 86% of Americans, regardless of party affiliation, want this practice to end and they support what we're doing." (01:30)
  • High returns for some members draw skepticism:
    "With Nancy Pelosi, I think the return was 17,000% from the time that she left office." (01:33, repeated for emphasis at 04:28) "You’re seeing those 600% returns almost guaranteed. They're outperforming the S&P." (01:45)
  • Members' family members being unusually successful at trading is spotlighted as evidence for ongoing unethical practices.

• Political Gamesmanship

  • Luna underscores the gap between campaign promises and Congressional reality:
    "A lot of people will come up here, they'll say what they need to say to get elected, but then they understand that there's never really going to be a vote...it'll pretty much be an easy job where they're not really called out for what they're doing." (02:49)
  • She describes bipartisan reluctance within Congress:
    "You have bipartisan support with the American people overwhelmingly, but there's massive bipartisan opposition from within." (05:22)
  • Pressure tactics and scare language are used against reformers:
    "We've been told...that if we were forcing the vote...we were going to cost the party and Congress the midterms, that we were going to destroy democracy. I kid you not, that is what we were told." (05:38)

• The Bipartisan Approach

  • Luna called up a bipartisan bill with over 100 co-sponsors, showing she was less interested in credit and more interested in traction:
    "I don't really care if I get the credit for this or not. But what I do think is you need as many people on your side on this issue because of the fact that we're fighting our own parties on both sides." (05:14)

The Mechanics and Limits of Legislative Fixes

• How the Proposed Law Works

  • Luna clarifies the scope:
    "What this legislation...would prohibit members of Congress, their spouses and their direct dependent children from trading." (08:33)
  • Dave Rubin brings up the common skepticism that politicians will find workarounds:
    "They'll always figure out a way around it...there's sort of no way to actually control the beast." (08:02)
  • Luna responds practically: violations by extended family remain illegal, but her focus is cutting off the most direct and egregious conflicts for lawmakers themselves (08:35).

• Systemic Corruption & Policy Impact

  • The show connects insider trading to broader policy failures, like inflated drug prices:
    "A majority of members of Congress, I think it's one in three are exposed to pharmaceuticals...If you were to cap that, the stock would drop and then thus it would impact their personal wallets. Like how could you ever be expected to represent your people if you're doing that?" (06:38)

Turning to State-Level Governance: Florida

• Ongoing Florida Policy Debates

  • Rubin and Luna discuss property taxes, insurance premiums, and the outsized influence of lobbies in Tallahassee (09:26–10:10).

  • Luna:
    "I really want them to get away or get rid of the property taxes." (09:26)

    • Hopes Governor DeSantis can deliver meaningful reform before his term ends (09:37).

  • She describes pressures from the insurance lobby and the difficulties of passing meaningful reforms at the state legislature.

• 'Fed-Proofing' and State Autonomy

  • Luna argues for policies that protect states like Florida from federal changes she sees as threatening liberty, especially involving digital currencies and public health mandates:
    "We want to get legislation on this next appropriations...to ensure that central backed digital currencies are illegal and can't happen." (10:37)

  • She sees this as an example of "fed-proofing" Florida, especially if different political forces control the federal government in years to come.

  • There’s praise for healthy food and product standards, noting that even states like New York and California have set higher benchmarks.

Challenges for the Republican Party Ahead

• Priorities Before the Next Election
  • Luna's legislative 'to-do' list for Republicans:
    "If we ban insider trading, if we codify the executive order to cap prescription pricing, and if we focus on affordability, we'll be okay. But that would require codifying." (13:23)
  • She calls for bolder leadership in Congressional negotiations (13:35).
  • Memorable closing comment:
    "If we don't get our legislation, just blow it up. So maybe some more of that." (13:53)

Notable Quotes & Memorable Moments

• On Political Hypocrisy:
  "By the way, last time we checked, our founding fathers didn't have massive stock portfolios." – Anna Paulina Luna (05:57)
• On Real Representation:
  "How could you ever be expected to represent your people if you’re doing that?" – Anna Paulina Luna (06:50)
• On Bipartisan Resistance:
  "You have bipartisan support with the American people...but there’s massive bipartisan opposition from within." – Anna Paulina Luna (05:22)
• On Legislative Frustration:
  "A lot of people will come up here, they'll say what they need to say to get elected, but then they understand that there's never really going to be a vote." – Anna Paulina Luna (02:49)
• On Taking Risks:
  "This has definitely made me probably the most wildly unpopular member on the Hill, but very popular among the American people, is what I'm saying." – Anna Paulina Luna (09:11)

Timestamps for Key Segments

• [01:30] – Stats on American opinion of insider trading, Pelosi’s stock returns
• [02:45] – Luna’s background and focus on anti-corruption, government insider trading explained
• [05:09] – Bipartisan support from public, resistance inside Congress
• [08:33] – Mechanics of the proposed insider trading ban, who it really restricts
• [09:26] – Florida-specific issues: property tax, insurance, and legislative obstacles
• [10:37] – ‘Fed-proofing’ Florida: digital currency and sovereignty
• [13:23] – Luna’s legislative prescription for Republicans ahead of the elections

Tone & Style

The conversation is frank, occasionally combative, yet rooted in data and legislative process. Luna’s delivery is both passionate and pragmatic, focusing on outcomes over partisanship, while Rubin's questioning remains pointed but accessible, keeping the conversation relatable and broad-reaching.

This summary captures the central themes, arguments, and noteworthy statements from the episode, preserving the actual tone and perspectives of the speakers.