Trump Media’s Truth API is drawing scrutiny after the company launched a paid feed that gives Wall Street firms faster access to Truth Social posts, including the platform’s most influential accounts. The service is aimed at traders who depend on speed, and critics say it could give wealthy market players an edge based on information tied to the president’s public statements.
Trump Media & Technology Group says the product offers real-time access in milliseconds to posts from the highest-ranking Truth Social accounts. The company has not directly said whether the president’s own account is included, though his roughly 13 million followers make his posts the most influential on the site. TMTG had expected the service to be available to institutional customers on August one, and reports indicated the price could reach $100,000 a month, though the company has not confirmed that figure.
The move comes as Trump Media looks for a new revenue stream. The company says Truth API is meant to help high-frequency and algorithmic trading firms, which it says are most affected by delays in information. Those firms use automated systems that trade far faster than people can react, often relying on small gains made at high volume.
That is exactly why the service is controversial. Democratic Senators Elizabeth Warren and Adam Schiff have asked the Securities and Exchange Commission to examine whether Truth API may violate the law. The SEC has confirmed receipt of the letter but has not said whether it will investigate. Their concern centers on whether the feed could allow trades based on information not yet available to the general public.
Trump Media has pushed back hard. A company spokesperson said Senate Democrats were misreading the service, arguing that the criticism reflects either hostility to free markets or confusion over the difference between public and nonpublic information. The company also said the senators had invented a new theory of insider trading based on publicly available information.
