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I don't think politicians are making more money than the hedge fund managers. Why would you think that they have more knowledge than the hedge funds? Likely the hedge funds are managing their money. These congress people are not sitting at home in front of a Fidelity account and making trades after they hear from a lobbyist about big market news.

In the past it really was legal for politicians to insider trade but that was ostensibly rolled back by the STOCK act: https://www.cbsnews.com/news/obama-signs-stock-act-to-ban-co...

I guess you could argue that there are still avenues to wiggle around the new rules but at least the width of the corridor was reduced.

Can you share some examples of insider trades by the political class that ended up becoming public knowledge?

Members of the Political class sold after private briefings on coronavirus months before it became known to the public.