The proposal follows Trump Media & Technology Group's Truth API launch, which offers Wall Street firms advance access to Truth Social posts that the company says are among its most market-moving.
Sen. Mark Warner unveiled legislation that would bar social media companies from selling expedited access to posts from government officials, days after Trump Media & Technology Group launched Truth API. The bill, called the No Preferential Release of Federal Information for Transactions, or NO PROFIT Act, would prohibit platforms from selling prioritized access to accounts associated with the president, vice president, members of Congress and other government employees. It would also make it illegal to trade on material information obtained through such a service. The measure responds to Truth API, a product TMTG announced in mid-July and launched over the weekend, offering Wall Street firms advance access to Truth Social posts that TMTG describes as the platform's most market-moving. Warner said selling prioritized access to a president's posts is corrupt and undermines public confidence, arguing that Americans should have free and equal access to public statements by U.S. government officials. Truth Social remains Trump's main public communication channel, and his posts have often moved markets by touching on policy decisions, military operations and other developments.