Trump Media has discussed charging up to $100,000 a month for its Truth API product, which would give buyers first access to the top 10 accounts, including Trump’s.
Published July 29, 2026
U.S. Democratic senators Elizabeth Warren and Adam Schiff have asked U.S. securities regulators to investigate whether Truth Social’s parent company Trump Media’s plan to sell early access to U.S. President Donald Trump’s social media posts violates the law, according to a letter seen by Reuters.
Trump Media (TMTG) this month announced a paid, licensed data feed that will give trading companies the “fastest” access to posts from 10 of the most influential truth social accounts, including Mr. Trump. The letter, sent Tuesday, increases pressure on Wall Street companies that may have bought the product as well as the feed, which some industry insiders say could increase legal, political and regulatory risks.
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“This appears to be an outrageous abuse of the executive office for personal gain, enriching Wall Street and other wealthy insiders while undermining everyday investors and the health of the markets,” Warren and Schiff wrote in a July 28 letter to Securities and Exchange Commission Chairman Paul Atkins.
SEC spokesperson Atkins, a free-market Republican who was appointed to the role by President Trump and has a generally soft stance on law enforcement, acknowledged receiving the letter but declined to comment further.
“Senate Democrats continue to mishandle the features of the Truth API, either out of ideological opposition to free markets or a failure to understand the distinction between public and private information, or perhaps both,” a TMTG spokesperson said in an emailed statement.
The White House referred requests for comment to the company.
Paid early access
Trump Media is discussing charging as much as $100,000 a month for its Truth API product, Reuters and other media reported. Trump’s social media posts have moved markets in the past, and the profits of many top trading firms, hedge funds and financial services firms depend heavily on the speed with which they trade such news.
Trump owns about 41% of Trump Media through a trust overseen by his children, which stands to benefit from the paid-access model. The company said it has already registered customers ahead of its August 1 launch, but did not identify the customers.
Warren of Massachusetts and Schiff of California say the Truth API is the latest example of the president conflating personal and presidential affairs, raising ethical questions. For example, President Trump reported last month that his family’s cryptocurrency project made more than $1.4 billion last year. That includes Trump’s official meme coin, which critics say could be used to sell access to the president and serve as a conduit for bribery.
Lawyers said technology platforms are generally allowed to provide early data access to customers even if it disadvantages some market participants, but some ethics experts say the Truth API product is different because Trump’s posts are government information and he has an obligation to publicly disseminate it.
Warren and Schiff also noted that Trump has used Truth Social in the past to endorse certain stocks, including Citigroup, Intel and Palantir, increasing the risk of insider trading and undermining investor confidence that markets operate on a level playing field.
“The senators must have invented a new theory of ‘insider trading’ based on publicly available information,” a TMTG spokesperson said in a statement.
