San Francisco City Attorney David Chiu sued Trump Media & Technology Group in San Francisco Superior Court, alleging that Truth API, a subscription service introduced on Aug. 1, violates state and federal law by giving paying customers access to President Donald Trump's Truth Social posts milliseconds before the public. Monthly fees reach $100,000, and the service includes posts from Trump and prominent Truth Social figures such as Vice President JD Vance. Chiu argues that the timing advantage can allow companies using algorithmic trading systems to act on market-moving information, benefiting well-funded institutions at the expense of Californians whose savings are held in retirement plans, pension funds and college accounts. The suit cites market moves following several posts, including a 9.5% rise in the S&P 500 after Trump's April 9, 2025, post endorsing DJT shares preceded his announcement of a 90-day tariff pause, and a rise in U.S. Steel's share price from $42.90 to $52.55 after his May 23, 2025, reversal on Nippon Steel's $14 billion acquisition. It also cites employment data posted 12 hours before its official release and comments about the war in Iran that coincided with crude-oil volatility. Trump Media rejects the lawsuit's premise. Trump, who owns approximately 41% of the company through a trust run by his son Donald Trump Jr., was not named as a defendant. The case follows a federal lawsuit filed in Manhattan last month by the Freedom of the Press Foundation and The Intercept, which alleges that Truth API violates the First and Fifth Amendments. Trump Media interim CEO Kevin McGurn said customers had signed contracts in the mid-teens at $60,000 to $100,000 per month and called the service a high-margin recurring revenue stream. Senators Alex Padilla and Mark Warner have urged Congress to prohibit Truth API. Trump Media stock traded at $9.20 on Tuesday, down approximately 48% over the past year.