It's legal inside Congress, according to The Economic Collapse blog (see #9 on the list). Please click the title of this post for the link (Blogger, when wilt thou be healed?)
I'm not sure whether it's the same situation in the UK Parliament. Insider trading only became illegal in Britain with the passage of the Companies Act (1980), but I don't know whether MPs themselves are allowed to use nonpublic information to enrich themselves.
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