His Truth Social posts have become must-watch events on Wall Street, and now traders will be scrambling to capitalize on them even faster after President Donald Trump’s social media company began charging up to $100,000 a month for early access to his news feed.
Critics say the “corrupt” move monetizes the power of the presidency while giving market insiders an edge over everyday investors, drawing further accusations that the president is using his office for personal gain.
The rollout has sparked calls for a federal investigation as well as sharp criticism from ethics experts and lawmakers who describe it as an unprecedented conflict of interest. They see it as another way for Trump to enrich himself from the presidency.
“He doesn’t care anymore. It’s just nonstop, in-your-face corruption,” said Democrat Sen. Christopher Murphy of Connecticut. “The latest? If you pay Trump $100,000 a month, he will give you advance White House announcements on economic and trade policy. An insider trading subscription service. People will go to jail for this.”
Trump Media and Technology Group launched the new subscription-based data service, called Truth API, on Saturday. The application is designed to provide businesses with “a direct, licensed, real-time feed of the platform’s most market-moving Truths,” said interim CEO Kevin McGurn.
Ranking member of the House Judiciary Committee Rep. Jamie Raskin has launched an investigation into the API.
The service gives paying subscribers, including trading firms, faster access to posts from Trump and other prominent Truth Social accounts so they can use it to “gain an edge” when making decisions on stock investments.
Other social media companies sell similar premium data feeds, but critics argue Truth Social stands apart because its most influential user is also the sitting president and the company’s largest shareholder.
Trump routinely breaks major policy news on the platform before the White House formally announces it, often triggering an immediate reaction on Wall Street.
His @realDonaldTrump account had roughly 13 million followers.
The launch comes just days after Democratic Sens. Adam Schiff and Elizabeth Warren urged the Securities and Exchange Commission to investigate whether the service violates securities laws. In a letter sent Tuesday to SEC Chairman Paul Atkins, the lawmakers argued the arrangement raises serious ethical and legal concerns.
“This appears to be an outrageous abuse of the President’s office for his personal benefit that undermines everyday investors and the integrity of our markets, while enriching Wall Street and other wealthy insiders,” they wrote.
Ethics experts and market veterans voiced similar concerns.
“If this was the CEO of a public company, this would be jail time,” said Irene Aldridge, head of Able Alpha Trading, according to the Associated Press. “We have a President of the United States who has the front seat to all the action, who makes all the decisions, and he’s disclosing this ahead of time to a select group.”
Asked whether White House lawyers had reviewed the service or whether it was appropriate for a sitting president, the White House declined to comment and referred questions to Trump Media. The company responded by accusing Democrats of misrepresenting the service “out of ideological opposition to free markets or a failure to grasp the distinction between public and nonpublic information — or, quite possibly, both,” AP reported.
Trump’s posts have repeatedly jolted financial markets as he announces tariff decisions, weighs in on Federal Reserve policy, comments on foreign conflicts and praises individual companies. Critics argue that giving sophisticated firms even a fraction of a second advantage could translate into substantial profits through high-frequency trading systems powered by artificial intelligence.
“For the big guys, it’s going to be something they need,” said Joe Saluzzi, co-founder of Themis Trading, according to AP. He estimated roughly 100 high-frequency trading firms could be interested in the service. “It’s market-moving information.”
Saluzzi dismissed the company’s argument that posts are technically released to everyone at the same time.
“Somebody who buys the info and has a system built to process it will be able to act quicker than you and me,” he said before adding of ordinary investors, “The loser is always the retail investor.”
The announcement fueled a wave backlash online.
One widely shared post read in part: “He’s manipulating the stock market and then charging people to have the ability to insider trade. Things don’t get any more corrupt than this.”
Another user questioned whether the arrangement could even be lawful.
“Seems like that should be illegal? Pretty sure it is … Rep. Raskin … do your thing,” one critic wrote.
Another said: “This is illegal. Why is nobody arresting Trump who is not allowed to be doing private sector business while holding the office of president. Enough already.”
A fourth warned about the broader precedent, writing, “See anybody doing anything about it? You know, this sets the precedent for all future administrations and the future of the country. Corruption. Embarrassing to end 250yrs of democracy in total corruption and criminality.”
The controversy arrives as Trump Media continues to struggle financially. The company’s stock has fallen more than 70% since Trump returned to office, erasing roughly $6 billion in shareholder value, according to the Guardian. Forbes reported that shares climbed 5.5% to $10.39 on Friday, one day before the Truth API debuted, as investors anticipated the company’s newest revenue stream.
Trump’s financial interests have drawn heightened scrutiny in recent months after his annual financial disclosure revealed he generated more than $1 billion in revenue last year from Trump Media and various cryptocurrency ventures tied to his family.
Critics say the president’s increasing reliance on Truth Social for major policy announcements only heightens the stakes.
“The pimping of specific companies — obviously Wall Street would like to know that before other people,” said Dylan Hedler-Gaudette, a federal ethics expert with the Project on Government Oversight, according to AP. “It’s a real mess.”
Craig Holman, a lobbyist with the government watchdog Public Citizen, predicted the trend is unlikely to stop if the platform continues searching for new revenue.
“That’s absolutely going to happen,” Holman said, according to AP. “Trump knows how to sell products.”
