The Aug. 1 rollout gives institutions millisecond access to Truth Social posts as legal criticism intensifies and Representative Jamie Raskin seeks records on subscribers and covered accounts.
Trump Media & Technology Group began offering its paid Truth API service to institutional customers on Aug. 1, giving trading firms machine-readable, low-latency access to posts from influential Truth Social accounts, including U.S. President Donald Trump’s account. The product is aimed at high-frequency and algorithmic traders and includes continuous coverage, delivery within milliseconds and a searchable archive dating to 2022. The service has drawn sharper criticism as reports said five Wall Street firms had subscribed, with pricing cited at $100,000 a month. At that level, the service would generate about $500,000 in monthly revenue, or $6 million annually, though Trump Media has not publicly confirmed a standard price list or subscriber count. Interim CEO Kevin McGurn said in a press release that "Markets already move on Truth Social posts" and described Truth API as "a direct, licensed, real-time feed of the platform’s most market-moving Truths." Political, legal and ethics questions have expanded beyond the earlier Senate scrutiny. Representative Jamie Raskin, Ranking Member of the House Judiciary Committee, launched an investigation on July 31 and sought records on subscribing firms and the "highest-ranking Truth Social accounts" included in the feed. NYU Stern School of Business professor Gian Luca Clementi told Fortune, "This is insider trading by definition," while Richard Painter and Renée Jones argued the greater risk could arise if genuinely market-moving policy news reaches paying subscribers before the public. Trump Media has rejected that characterization, with spokeswoman Shannon Devine saying Truth API offers the fastest way to ingest publicly available Truth Social data and that critics had effectively invented a new insider-trading theory based on public information. The scrutiny is sharpened by Trump’s financial stake. Trump Media’s latest ownership disclosure says the Donald J. Trump Revocable Trust holds 114.75 million shares, or about 41% of the company. Donald Trump Jr. is the sole trustee, while President Trump is the trust’s settlor and sole beneficiary. Trump Media has struggled to build a profitable social-media business: its first-quarter 2026 earnings showed a roughly $405 million net loss on less than $900,000 in sales, making Truth API a potentially important new revenue line even if modest by comparison with the broader income disclosed in Trump’s 2025 financial filing.