The Teapot Dome scandal was a political corruption scandal in the United States involving the administration of President Warren G. Harding. It centered on Albert B. Fall, the Interior Secretary, who had leased petroleum reserves designated for the Navy at Teapot Dome in Wyoming, as well as two locations in California, to private oil companies at low rates without competitive bidding. The leases were the subject of an investigation by Senator Thomas J. Walsh. Convicted of accepting bribes from the oil companies, Fall became the first presidential cabinet member to go to prison, but no one was convicted of paying the bribes.

Before the Watergate scandal, Teapot Dome was regarded as the "greatest and most sensational scandal in the history of American politics".

Congress subsequently passed permanent legislation granting itself subpoena power over tax records of any U.S. citizen, regardless of position. These laws are also considered to have empowered Congress generally.

To ensure that the Navy would always have enough fuel, President Taft designated several oil-producing areas as naval oil reserves. In 1921, President Harding issued an executive order to transfer control of Teapot Dome Oil Field in Natrona County, Wyoming, and the Elk Hills and Buena Vista Oil Fields in Kern County, California, from the Navy Department to the Department of the Interior. This was not implemented until the next year, when Interior Secretary Fall persuaded Navy Secretary Edwin C. Denby to implement the order.

Later in 1922, Fall leased oil production rights at Teapot Dome to Harry F. Sinclair of Mammoth Oil, a subsidiary of Sinclair Oil Corporation. He also leased the Elk Hills reserve to Edward L. Doheny of Pan American Petroleum and Transport Company. Both leases were issued without competitive bidding; leasing without bids was legal under the Mineral Leasing Act of 1920.

The lease terms were very favorable to the oil companies, and secret transactions associated with the two deals made Fall a rich man. He received a no-interest loan from Doheny of $100,000 in November 1921 (equivalent to $1.76 million in 2024). He received other gifts from Doheny and Sinclair totaling about $404,000 (equivalent to $7.12 million in 2024). While the leases were legal, these transactions were not. Fall attempted to keep them secret, but a sudden improvement in his standard of living raised suspicions. He paid up his ranch taxes, for example, which had been as much as 10 years past due. Carl Magee, who later founded The Albuquerque Tribune, wrote about this sudden affluence and also brought it to the attention of the Senate investigation.

In April 1922, a Wyoming oil operator wrote to his senator, John B. Kendrick, angered that Sinclair had been given a contract to the lands in a secret deal. Kendrick did not write back to the man, but two days later on April 15, he introduced a resolution calling for an investigation of the deal. In March 1923, the U.S. Senate launched their first investigation into Teapot Dome. Republican Senator Robert M. La Follette of Wisconsin led an investigation by the Senate Committee on Public Lands. At first, La Follette believed Fall was innocent. However, his suspicions were aroused after his own office in the Senate Office Building was ransacked.

Democrat Thomas J. Walsh of Montana, the most junior minority member, led a lengthy inquiry. For two years, Walsh pushed forward while Fall stepped backward, covering his tracks as he went. No evidence of wrongdoing was initially uncovered, as the leases were legal enough, but records kept disappearing mysteriously. By 1924, the remaining unanswered question was how Fall had become so rich so quickly and easily.