Senators grill Hegseth over Iran war costs, insider trading claims

Senators pressed Defense Secretary Pete Hegseth on U.S. war costs, civilian casualties, and allegations of insider trading tied to the Iran conflict. Hegseth rejected the claims and defended the military’s conduct during a heated Senate hearing.

Reuters

May 03, 2026

U.S. Defense Secretary Pete Hegseth testifies before a Senate Armed Services Committee hearing on U.S. President Donald Trump's FY2027 budget request for the Department of Defense on Capitol Hill in Washington, D.C., U.S., April 30, 2026.

Ken Cedeno/Reuters

Democratic senators accused Defense Secretary Pete Hegseth of exaggerating U.S. military progress against Iran at a contentious Senate Armed Services Committee hearing on Wednesday (April 30).

Lawmakers pressed him on civilian casualties, war costs exceeding $25 billion and potential insider trading tied to the conflict.

Hegseth dismissed the criticism, calling congressional Democrats and some Republicans "the biggest adversary we face" and "reckless naysayers," while insisting no military works harder to protect civilian lives.

Senator Elizabeth Warren of Massachusetts confronted Hegseth over possible insider trading on advance knowledge of military operations and asked whether he had invested in defense-related funds before the war began.

Hegseth denied any such investments, calling it "a big fat negative."

-Production: Geraldine Downer/Reuters

Democratic senators accused Defense Secretary Pete Hegseth of exaggerating U.S. military progress against Iran at a contentious Senate Armed Services Committee hearing on Wednesday (April 30).

Lawmakers pressed him on civilian casualties, war costs exceeding $25 billion and potential insider trading tied to the conflict.

Hegseth denied any such investments, calling it "a big fat negative."

-Production: Geraldine Downer/Reuters