> can't we all go on to the House or Senate web sites and read the drafts of those bills and have the same "insider information" that they do?

The published drafts are days behind what's being circulated; you can see this every time there's an emergency bill, it's often voted on almost simultaneously with the final text being released. Sometimes, there's a reading of the bill, if people push the right procedural buttons.

Regardless, insider trading on delayed information isn't nearly as good as insider trading on current information (probably? I don't have experience with insider trading :)