On July 31st Rep. Jamie Raskin, Ranking Member of the House Judiciary Committee, launched an investigation into Trump Media & Technology Group’s plan to sell Wall Street firms early access to President Donald Trump’s market-moving Truth Social posts through a new “Truth API” which launched on August 1st.
The service is marketed to high-frequency traders, hedge funds, and other major investment firms, and is set to cost $100,000 per month.
Donald Trump, who controls a trust owning more than 40% of Trump Media’s shares, stands to directly profit from this arrangement.
As of August 13th, The Economic Times, Time Magazine, AP News, and others have reported that the Intercept and Freedom of the Press Foundation have filed a lawsuit in a Manhattan Federal Court to block the release of the Truth API—the plaintiffs call the service “profoundly corrupt” and argue it violates the First Amendment’s equal access principle and seeks to prevent official government announcements from being exclusively posted on Truth Social.
This clear pattern of pay-to-access fits into Donald Trump’s past actions and statements, from tariff announcements to statements on the Iran war, which have instantly moved markets and affected the value of publicly traded companies. Now, firms paying $100,000 per month could act on that information before the broader public. This scheme would allow wealthy institutional investors to profit from price swings triggered by presidential statements, while leaving everyday investors, pension funds, and retirement accounts at a fundamental disadvantage.
Having free and equal access to official government statements—especially from the office of the President—is essential for all citizens to build and maintain public trust and to ensure companies and wealthy individuals are not buying Executive power.
The Legislative branch leveraging it’s Constitutional authority to conduct oversight hearing and investigations—combined with Companies and citizens filing lawsuits at the Federal and State levels—provide the needed mechanisms to hold public officials, and companies, accountable for violations of the law.
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I’m Nick Paro, and I’m sick of the shit going on. So, I’m using poetry, podcasting, and lives to discuss the intersections of chronic illness and mental wellbeing, masculinity, veteran’s issues, politics, and so much more. I am only able to have these conversations, bring visibility to my communities, and fill the void through your support — this is a publication where engagement is encouraged, creativity is a cornerstone, and transparency is key — please consider becoming a paid subscriber today and grow the community!
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