Facebook is yet to announce if its move will trickle down to other platforms and countries as well, and exactly when will it be rolled out for people to use.
Facebook's current political ads policy does not take any action against ads run by political leaders or groups even if they contain misinformation or lies.
Democratic presidential candidate Michael Bloomberg is promoting his political campaign via sponsored content through Facebook and Instagram influencers.
Pelosi accused Facebook of having a shameful business model where it is only interested in tax cuts and avoiding antitrust action against itself.
Facebook has been criticized over its content policies by both Democrats and Republicans for refusing to fact-check political ads.
During India's 17th Lok Sabha elections earlier this year, Facebook's Ad Library Report showed that the site had 1.21 lakh political ads worth over Rs 26.5 crore.
Facebook said that it will neither censor nor send statements, ads or any other content shared by politicians to its third-party fact-checkers.
Facebook and Google have been asked to ban the publication of political advertising during elections.