- Trump faces a lawsuit over paid early access to his Truth Social posts.
- Trading firms are paying for faster access to potentially market-moving posts.
- Truth Social’s data plans face added scrutiny as Trump Media seeks new revenue.
Donald Trump is facing a lawsuit over a new Truth Social service that gives paying customers earlier access to his posts, raising questions about whether private subscribers are gaining an advantage over the public.
The Intercept and the Freedom of the Press Foundation filed the case Wednesday in federal court in New York. They allege that Trump Media & Technology Group’s Truth API gives subscribers faster access to posts, including statements that could move financial markets.
Truth API Faces Legal Challenge
Trump Media launched Truth API on Aug. 1 and has signed more than 10 customer agreements, mainly with high-frequency trading firms. The contracts reportedly range from $60,000 to $100,000 a month.
Trump Media interim CEO Kevin McGurn said the service delivers public posts only “fractionally faster” than other channels. For trading firms, even a small speed advantage can matter when markets react quickly to news.
Related: 5 Features That Set the Truth API Apart From Traditional News Feeds
The plaintiffs want equal access to Trump’s official posts and are asking the court to declare the service unconstitutional. They argue that selling faster access gives paying customers an advantage over journalists and the wider public.
Prediction Markets Add Another Angle
Trump Media is also exploring deals to license Truth Social data to prediction-market operators, potentially creating another source of revenue. The company has moved away from plans to build its own prediction-market platform with Crypto.com.
The dispute comes as Senators Elizabeth Warren and Adam Schiff have asked the SEC to examine potential securities-law violations. Trump Media also reported a $644 million first-half net loss, partly tied to changes in the value of its digital-asset holdings.
Related: Trump’s Iran Warning Raises New Questions for Oil, Markets and 2028 Politics
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