Overview
- Trump Media launched the Truth API in early August and says several institutional clients have subscribed to a feed that delivers Truth Social posts in milliseconds for reported fees up to $100,000 per month.
- Hours after the API went live, a presidential Truth Social post about calling off planned strikes coincided with a sharp drop in oil futures, a market move widely cited as evidence that the feed can produce tradable advantages.
- Senators Elizabeth Warren and Adam Schiff have asked the SEC to investigate potential market‑manipulation or insider‑trading implications, and the company says the data are public and subscribers only gain a small latency edge.
- Critics highlight that President Trump holds a reported roughly 41% economic stake in Trump Media, saying subscription revenue would flow to him and could create incentives to post market‑moving statements.
- Lawmakers have proposed bills to ban prioritized presidential data feeds while observers note that low‑latency trading access exists elsewhere on markets, leaving regulators and Congress as the key next actors to clarify legal and ethical limits.