Truth Social sells trading firms early access to Trump posts

Trump Media and Technology Group officially launched a premium version of Truth Social, President Donald Trump’s social media platform, over the weekend. The service gives trading firms early access to posts from high-profile users, including the president.

Truth API gives financial services partners immediate access to influential Truth Social posts about economic policy and global affairs before the public. In an announcement last month, TMTG said it had already signed up customers for the service ahead of the launch and was in the process of bringing additional partners on board. TMTG has not publicized the names of any subscribers to the service.

What do lawmakers think? The announcement elicited immediate outcry from Democrats in the U.S. House of Representatives and the Senate. Sen. Mark R. Warner, D-Va., called the arrangement a serious risk to market integrity, and Rep. Ritchie Torres, D-N.Y., argued that a sitting president’s company selling traders access to policy announcements is much different than a social media platform licensing ordinary data. The House Judiciary Committee ranking member, Rep. Jamie Raskin, D-Md., launched an investigation into Truth API, and Rep. Angie Craig, D-Minn., called on the Department of Justice and Securities and Exchange Commission to do the same.

According to reports, GOP lawmakers including Sen. Bill Cassidy, R-La., Sen. Susan Collins, R-Maine, and Sen. Lisa Murkowski, R-Alaska, have also expressed concerns about the service.

In a statement announcing the service last month, TMTG interim CEO Kevin McGurn said, “Markets already move on Truth Social posts. … As adoption grows, we expect Truth API to become a meaningful, ongoing source of revenue for the company, creating lasting value for shareholders.”

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