Hegseth Responds to Warren’s Insider Trading Allegations Related to Iran War Comments: ‘No One Owns Me’

War Secretary Hegseth Denies Profiting from Iran Conflict in Heated Senate Exchange

War Secretary Pete Hegseth forcefully rejected allegations that he or others within the administration may have profited from the ongoing Iran conflict during a tense Senate hearing Thursday, telling Senator Elizabeth Warren that “no one owns me” as she questioned him about suspicious trading activity allegedly linked to the war.

During the contentious exchange, Warren pointed to what she described as a pattern of large, well-timed oil trades occurring just minutes before President Donald Trump made public announcements related to the conflict. The Massachusetts Democrat suggested these trades raised serious concerns about the possibility that individuals with access to non-public information were using it for financial gain.

“In just the space of minutes, it looks like insiders have been making out like bandits, using secret information about the war,” Warren asserted, pressing Hegseth repeatedly on whether he had any explanation for the activity “other than insider trading.”

Hegseth flatly denied the premise, insisting his department has operated “completely above board” throughout the conflict. “What happens in markets, in betting markets, is not something we’re involved in,” he stated, emphasizing that his focus remains on military operations rather than financial markets.

The confrontation escalated when Warren referenced media reports about Hegseth’s personal financial dealings, including claims that a broker attempted to invest in a defense-related fund on his behalf shortly before the Iran conflict began. According to reporting by the Financial Times, a broker working for Hegseth contacted BlackRock in February about making a multimillion-dollar investment in a fund tied to major defense contractors, including Lockheed Martin and Northrop Grumman.

“That entire story is false,” Hegseth responded firmly. “Any insinuation that I have ever profited… I don’t do it for money. I don’t do it for profit. I don’t do it for stocks. No one owns me. No one owns this department. No one owns this president.”

The Pentagon has previously issued strong denials regarding these reports, calling them “entirely false and fabricated.” According to the Financial Times report, the investment ultimately never took place because the fund was not available to the broker at the time.

The exchange highlights growing scrutiny in Washington over potential conflicts of interest related to the Iran conflict, particularly concerning whether sensitive military information could be leveraged for personal financial gain. Federal law places strict limitations on defense officials’ investments to prevent such conflicts, generally barring presidential appointees at the Pentagon from owning or buying stock in major defense contractors that receive the largest government contracts, with limited exceptions for diversified funds.

Warren’s questioning comes amid heightened attention to insider trading within military and government circles following a high-profile case involving Army Special Forces Master Sgt. Gannon Ken Van Dyke. Federal prosecutors recently charged Van Dyke with using classified intelligence about a covert operation to capture Venezuelan leader Nicolás Maduro to place bets on a prediction market, allegedly earning more than $400,000 from the wagers.

Authorities claim Van Dyke was involved in planning the operation and used his inside knowledge to bet on the outcome before it became public information, resulting in charges including wire fraud and unlawful use of government information.

This case has sparked debate about potential double standards in enforcement, with critics noting that while service members face serious legal consequences for such actions, similar rules governing members of Congress have historically seen less aggressive enforcement.

Representative Anna Paulina Luna (R-Fla.) highlighted this disparity, telling Fox News: “This man is facing decades in prison. Meanwhile, every single day on Capitol Hill, there are many members of Congress on both sides that are currently engaging in insider trading.”

President Trump weighed in on the Van Dyke case Saturday, comparing it to baseball legend Pete Rose. “That’s a little like Pete Rose,” Trump said. “They kept him out of the Hall of Fame for betting on his own team. Now, if he bet against his team, that would be no good, but he bet on his own team. I’ll look into it.”

As the Iran conflict continues, these allegations are likely to face continued scrutiny from lawmakers concerned about proper oversight and ethical conduct within the administration.