Last week, Trump Media & Technology Group — which operates , the U.S. president’s preferred platform for digital communications — said it will provide “immediate, verified access” to “the highest-ranking” accounts on Truth Social. That would let, say, financial institutions pay to get instant alerts about potentially market-moving statements from Donald Trump himself.
TMTG execs have talked about charging Wall Street traders and investment firms up to $100,000 per month for faster access to the president’s posts, as first reported by the Financial Times.
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The Truth API program, TMTG said, “is designed for organizations most impacted by the cost of a delay in information. This includes high-frequency and algorithmic trading firms that require a low-latency, machine-readable feed rather than manual tracking.” The Truth API is able to deliver Truth Social posts to customers “in milliseconds.” It’s scheduled to become available Aug. 1, 2026, according to the company.
Donald Trump is the largest shareholder in Trump Media, holding more than 40% of its shares through a revocable trust, according to a Bloomberg report this week.
Now some Republican lawmakers are speaking out — and questioning the propriety of the new Trump Media initiative.
“I think that’s wrong. It’s a form of buying access,” Sen. Bill Cassidy (R-La.) told The Hill. He added that families that are “struggling to make ends meet” would wonder, “Why would you reward those who are already doing well when we should do more for those who are struggling?’” GOP Sen. Susan Collins of Maine said about TMTG’s plan to sell access to Truth Social posts, “That does not sound appropriate,” according to the outlet.
“The president is the president of the United States, he’s not in a position to use the position to enhance your own personal wealth. I hope he’s not thinking about that,” Sen. Lisa Murkowski (R-Alaska) told Bloomberg.
Predictably, Democrats have also slammed the Truth API product. On Tuesday, Sen. Mark Warner (D-Va.), a member of the Committee on Banking, Housing and Urban Affairs, sent a letter to representatives of the financial services industry about his “concerns with Truth Social’s announcement that the service would offer advance access to the president’s posts on the platform for a substantial fee.”
“This arrangement presents a serious risk to market integrity, creates a clear and unacceptable pathway for corruption, and undermines public confidence in the fair dissemination of market-moving government information — a crucial factor in maintaining stable and trustworthy financial markets,” Warner wrote in a letter to the Bank Policy Institute, the Securities Industry Financial Markets Association, the Managed Funds Association, the Financial Services Forum, the Principal Traders Group and the American Bankers Association.
In remarks Tuesday on the Senate floor, Senate Democratic Leader Chuck Schumer (D-N.Y.) called Truth API “the exact definition of insider trading. It’s textbook pay-to-play. And this is what Donald Trump spends his time doing. And remember traders only need a millisecond head start to make a fortune. Just one millisecond and they can make a lot of money the way trading works these days. Every single day, we see a new example of Trump’s rampant corruption.”
Schumer added by asking rhetorically, “How many American families do you think can afford $100,000 a month to get a leg up in the market?”
Trump Media & Technology Group has pushed back on allegations that the Truth API program is improper. “With no apparent sense of irony, certain politicians falsely accuse us of anti-free market behavior while pressuring businesses into boycotting a product, all in a coordinated effort to harm a publicly traded company,” a TMTG spokesperson said in a statement to Axios.
TMTG said it has “already signed up customers ahead of the launch and is onboarding additional partners in the weeks ahead.”
“Until now, no official, integrated API has existed, and firms that prioritize tracking influential Truth posts have relied on manual monitoring,” per the company’s announcement. “Truth API closes the gap for organizations that place a premium on immediate, verified access to information.”
TMTG interim CEO Kevin McGurn previously said he expects the Truth API product to become “a meaningful, ongoing source of revenue.”
“Markets already move on Truth Social posts,” McGurn said in announcing the initiative. “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. As adoption grows, we expect Truth API to become a meaningful, ongoing source of revenue for the company, creating lasting value for shareholders.” McGurn is a former Hulu and Vevo exec who took over running Trump Media after the sudden exit of Devin Nunes, the former U.S. congressman who had been TMTG’s CEO since 2022.
Trump Media & Technology Group, which says its mission is “to end Big Tech’s assault on free speech by opening up the Internet and giving people their voices back,” has stayed firmly mired in red ink.
For the first quarter of 2026, TMTG generated net sales of $871,200, up 6% year over year. The company reported a $405.9 million net loss and a $387.8 million adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) loss for the first quarter of 2026. The vast bulk of the losses were “non-cash losses including unrealized losses on digital assets, digital assets pledged, and equity securities ($368.7 million), accreted interest ($11.5 million), and stock based compensation ($11.8 million),” the company said in a press release.
