Two United States media organisations have filed a lawsuit against President Donald Trump over a scheme by his social media company to charge up to $100,000 per month for early access to his often market-moving Truth Social posts, describing the plan as “extraordinary, corrupt and unconstitutional”.
The lawsuit, filed on Wednesday in a New York federal court by The Intercept and the Freedom of the Press Foundation, challenges the subscription service known as Truth API, which was launched on August 1 and offers paying customers near-instant delivery of the president’s messages, arriving seconds before they appear for the general public .
The plaintiffs argue that these crucial seconds matter because Trump frequently uses the platform to announce major policy decisions, including developments in the Iran war and trade tariffs, which can immediately move financial markets . The service is priced at $60,000 per month for a three-year commitment or $100,000 for a monthly subscription .
“This scheme is profoundly corrupt. The President stands to gain financially by giving ‘market-moving’ government information to those who are willing and able to pay his personal company,” the court filing states .
The lawsuit contends that by offering preferred access to presidential announcements, the monetisation plan violates the First Amendment rights of journalists and the public to equal access to official information, while also enabling Trump to profit from his public statements . The complaint further asserts that the scheme violates the Fifth Amendment by charging “unreasonable sums” for equal access to government information .
“Trump is trying to enrich himself by privatising government information that he has no right to sell,” said Ben Muessig, editor-in-chief of The Intercept . “This lawsuit seeks to vindicate the principle that the president of the United States cannot profit from the official government statements of the president,” added Nikhel Sus, Chief Counsel for Citizens for Responsibility and Ethics in Washington, which is providing legal support .
According to the lawsuit, Trump is the largest shareholder in Trump Media & Technology Group, with his stake worth approximately $1 billion, and he would stand to benefit significantly from the scheme .
Several Democratic lawmakers have called for a probe into the service by the Securities and Exchange Commission, which regulates US markets . Truth API has reportedly already signed 10 customer agreements, with trading companies believed to be among the first subscribers .
Trump Media interim CEO Kevin McGurn has defended the product, stating that it “delivers a direct, licensed, real-time feed of the platform’s most market-moving Truths while advancing our strategy to monetise proprietary assets” . The company has dismissed concerns, with a spokesperson previously stating: “Critics must have invented a new theory of ‘insider trading’ based on publicly available information” .
The plaintiffs are asking the court to declare Truth API unlawful and block future posts .
