The Truth API charges up to $100,000 a month for millisecond-faster access to Trump's posts, drawing calls for a federal investigation
President Donald Trump outside the White House. (Tasos Katopodis/Getty Images)
Trump Media & Technology Group launched its paid data feed on Saturday, giving financial firms faster access to Truth Social posts from President Donald Trump and other top accounts on the platform, as Democratic senators press the Securities and Exchange Commission to investigate whether the service violates federal law, according to CNBC.
The service, branded Truth API, is designed to push posts from Truth Social's highest-profile accounts to paying subscribers in near-real time, the company said. Trump Media has discussed charging up to $100,000 a month for access, with a reduced rate of $60,000 a month for firms committing to a three-year agreement, according to NBC News. Trump Media said customers had already signed up before the launch date.
"Markets already move on Truth Social posts," interim CEO Kevin McGurn said in a statement. "Truth API delivers a direct, licensed, real-time feed of the platform's most market-moving Truths while advancing our strategy to monetize proprietary assets through a high-margin, recurring revenue stream."
On Truth Social, @realDonaldTrump commands the platform's biggest audience, with 13 million followers. He has used the platform throughout his second term to announce tariff decisions and major military operations, often before making such disclosures through other official channels, according to NBC News. In high-frequency trading, where positions are opened and closed in fractions of a second, arriving at market-moving information even slightly ahead of rivals can yield outsized returns.
Trump holds an approximately 41% stake in the company through a family trust, putting him in line to benefit financially as subscriptions grow, regulatory filings show.
Sens. Elizabeth Warren of Massachusetts and Adam Schiff of California wrote to SEC Chair Paul Atkins last week urging the agency to investigate whether Truth API runs afoul of insider trading and market manipulation laws. The senators described the service as "an outrageous abuse of the President's office for his personal benefit that undermines everyday investors and the integrity of our markets, while enriching Wall Street and other wealthy insiders." The SEC declined to comment.
Trump Media spokesperson Shannon Devine rejected that characterization. "Truth API offers customers the fastest way to ingest publicly available Truth Social data," Devine said in a statement. "Critics must have invented a new theory of 'insider trading' based on publicly available information."
Legal experts have raised concerns nonetheless. Renée Jones, a Boston College professor and former senior SEC official, told NPR that selling premium access to a feed the president routinely uses to release government decisions could cross into misappropriation territory under federal securities law, given that such posts function effectively as official disclosures. She also flagged the 2012 Stock Act, noting that the law bars executive branch officials, including the president, from using privileged information for financial gain.
Trump Media announced Truth API on July 16, drawing immediate conflict-of-interest concerns. The feed covers accounts including Trump's @realDonaldTrump, the @WhiteHouse account, FBI Director Kash Patel, White House deputy chief of staff Dan Scavino, and Health and Human Services Secretary Robert F. Kennedy Jr. Shortly after the announcement, Sen. Mark Warner urged the heads of six major financial trade groups to publicly reject the service. Major banks have shown little interest in subscribing, citing political risk distinct from ordinary market-data purchases.
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